Westlake Financial broadens leasing segment
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LOS ANGELES –
Westlake Financial is deepening its presence in vehicle leasing, expanding upon that market segment it entered via an acquisition three years ago.
This week, Westlake rolled out its own lease program with franchised dealers in California and Arizona while looking to move into more markets throughout the rest of 2020.
The company said franchised dealers will receive automated approvals on lease applications submitted through RouteOne.
“Our goal is to offer full-spectrum finance solutions to our dealer partners,” said Ian Anderson, group president for Westlake Holdings. “Adding auto leasing to our product mix gives dealers another tool to help them finance more customers and sell more vehicles.”
Westlake Financial is familiar with leasing as the company purchased Credit Union Leasing of America (CULA) in 2017. CULA currently holds more than 85,000 prime credit leases, according to a company news release.
“With Westlake’s auto leasing program, we are looking to strategically offer leasing in markets where we currently do not have credit union coverage,” CULA president Ken Sopp said.
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For more information on its lease program, visit www.westlakefinancial.com/auto-lease-program.
