LAS VEGAS–(BUSINESS WIRE)–Western Funding Inc. (WFI) announced today that it surpassed $1 million
in dealer participation payouts through its “Triple Pay” program.
“This is a huge milestone for Western Funding,” stated Ian Anderson,
Group President of WFI parent Westlake Technology Holdings. “Triple Pay
is founded on the principle that everyone benefits when there is
alignment between the lender, dealer and customer.”
The Triple Pay program allows dealers to build a portfolio of accounts
and share in the profits. The program pays dealers three times:
competitive up-front advances at origination, Express Dealer Check at
pool closing, and back-end payments once the pool advances have been
repaid.
“The team is proud to have passed the $1 million milestone in Portfolio
Participation payments,” commented Jim Murray, President of Western
Funding. “This milestone highlights the Triple Pay program’s success
with our dealers. With our continued growth and solid portfolio
performance, we look forward to passing the $5 million milestone in the
near future.”
Western Funding Inc., headquartered in Las Vegas, NV, is a subsidiary of
Westlake Technology Holdings. Western Funding continues to expand its
participating dealer base across the United States. Independent and
Franchise dealers who are interested in learning more about Western
Funding’s Triple Pay program can visit https://westernfundinginc.com/triple-pay/.
About Western Funding, Inc.: Western Funding Inc., a subsidiary
of Westlake Technology Holdings, is a specialized consumer finance
company providing automobile financing to borrowers with limited access
to traditional credit. Headquartered in Las Vegas, NV, Western Funding
enables the origination and services installment loan contracts
originated by its national network of automobile dealers.
About Westlake Technology Holdings: Westlake Technology Holdings
is an auto and finance technology company headquartered in Los Angeles,
CA with approximately $8.33 billion in assets under management. Westlake
Financial Services originates indirect automotive retail installment
contracts through a nationwide network of new and used automotive and
powersports dealers. Westlake also offers loan portfolio purchasing,
credit facilities and portfolio servicing through their ALPS division
(Advanced Lending & Portfolio Services); www.WestlakeALPS.com.
Floor plan lines of credit are provided through their Westlake Flooring
Services division; www.WestlakeFlooringServices.com. Shared
cash flow auto lending through Westlake’s wholly owned subsidiary,
Western Funding Inc., a Nevada based auto lender. Indirect automotive
leasing for credit unions are through Westlake subsidiary, Credit Union
Leasing of America (CULA). Dealer leads and direct-to-consumer auto
loans are offered through Westlake Direct. Consumer title loans are
through Westlake’s wholly owned subsidiary Loan Center; www.loancenter.com.
Contacts
David Goff, VP, Marketing
Email: [email protected]
