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Westlake Financial auto loans review

Quick dealership financing for borrowers with bad credit.

  • Best for finding dealership financing — even without good credit or a high income.
  • Pick something else if you want clear loan terms and rates before applying.
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By

Kellye Guinan

Updated

Fact checked

Varies by lender

APR

Details

APRVaries by lender
Interest Rate TypeFixed
RequirementsSteady source of income, US citizen or permanent resident, ages 18+
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Review by

Kellye Guinan is a freelance editor and writer, specializing in consumer lending. Her writing and analysis has been featured on Bankrate, MSN and MediaFeed. She holds degrees in anthropology and German language and literature from Middle Tennessee State University.

Expert review

If you’ve exhausted your other options, dealership financing through Westlake Financial may help you buy the car you need. It doesn’t come with any hard credit or income requirements, and it works with a network of over 30,000 dealerships across all 50 states.

But it’s not up front about potential rates and terms you might qualify for. And its excessive fees for different types of repayments and dismal customer reviews might make you want to look elsewhere.

Not sold on Westlake? Compare your other options below.

First, am I eligible?

While Westlake Financial doesn’t state specific eligibility requirements, you will likely need to meet the following at a minimum:

  • Steady source of income
  • US citizen or permanent resident
  • At least 18 years old

What types of car loans does Westlake Financial offer?

Westlake and its subsidiary LoanCenter offer four auto loan options:

  • New car loans
  • Used car loans
  • Car loan refinancing
  • Motorcycle loans

Exact loan amounts, rates and terms vary by lender, so contact Westlake Financial or one of its partner dealerships for more information on the loan you might qualify for.

Pros

  • Network of over 30,000 dealerships
  • No minimum income needed
  • No limit on vehicle age or mileage
  • Current and previous bankruptcies accepted
  • One due date change allowed
  • Deferment program if you’re facing financial hardship

Cons

  • Limited loan information available online
  • Not a direct lender
  • Multiple complaints and negative reviews on the BBB
  • Processing fee for some forms of payment

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Westlake Financial reviews and complaints

Nothing good as of October 2020. While it receives an B- rating from the Better Business Bureau, it only scores 1 out of 5 stars based on over 100 customer reviews. And over 600 customers have filed complaints against the company in the past three years. A few customers claim Westlake damaged their credit scores because it said repayments weren’t made — even though checks had been mailed. Others cite excessive fees, rude customer service representatives and unlawful repossessions.

How do I apply?

You can apply online to get prequalified or shop at any of Westlake Financial’s partner dealerships. Follow these steps to get started online:

  1. Visit the Westlake Financial website.
  2. Enter your full name, ZIP code, date of birth and contact information.
  3. Read the privacy policy and other legal documents.
  4. Click Get Pre-Qualified.
  5. Enter information about your residence, employment and preferred vehicle.
  6. Add a coapplicant, if needed.

After you submit, a representative from Westlake Financial will connect you with a dealership to complete the application process.

What documents do I need to apply?

You don’t need any documents to fill out the online application. However, you may be required to bring proof of income, employment, residence or insurance with you when you visit a dealership.

How do repayments work?

You can make a payment on your loan using one of several methods, though many come with a processing fee:

  • Autopay from your checking or savings account — no fee
  • Online payment using your checking or savings account — no fee
  • Online payment using your debit card — $5 fee
  • By phone using your checking account, savings account or debit card — $5 fee
  • Through MoneyGram — $9.95 fee
  • By mailing a check to WestLake or dropping it off at a participating location — $1.50 fee or more depending on your state

If you think you might be late on a payment, you have the option of changing your due date one time throughout the life of your loan. And if you’re facing financial hardship, you might be able to defer one or more repayments until the end of your contract. Reach out to WestLake’s customer service team by calling 888-739-9192 to discuss you options.

Not sure about WestLake? Compare your other options with our guide to car loans.

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