2 dealers receive payments from Western Funding’s Triple Pay program

Western Funding announced the first two dealers to receive their second payment as part of its Triple Pay program.

Officials explained Triple Pay is Western Funding’s unique program that can give dealers the opportunity to build a portfolio of accounts and share in the profits of each deal. The program gives the dealers three opportunities to receive payment on the same contract.

The company added dealerships can maximize their profits by earning up to 50 percent of the interest collected and the entire principal as the customer makes payments.

Vegas Valley Motors located in Las Vegas is the first dealership to receive its second payment in the amount of $25,000.

“Vegas Valley Motors’ dedication to grow and expand relies on the additional profits from our Western Funding portfolio,” Vegas Valley Motors owner Grayson Cox said. “By placing customers who are more likely to perform in our portfolio, we have been able to earn additional profits on every deal we fund.”

The second dealership, Hollywood Preowned located in Houston, received a $15,000 second payment.

“Trusting Western Funding’s strong servicing is the key to our partnership,” Hollywood Preowned owner, Trey Bealls said. “As a partner, we are responsible for sending Western Funding good performing paper, and Western Funding is responsible for servicing each loan. So far, our partnership is paying off for both of us.”

The success of the Triple Pay program has helped Western Funding recently cross the $100-million milestone for the first time in its existence.

Dealerships interested in building a Triple Pay portfolio with Western Funding are encouraged to call the company directly at (702) 322-9951.