"We currently use Frazer and it works excellent for us. You can upload photos to each vehicle file, print window stickers , do BHPH contracts, cash Contracts, outside Financing contracts, and keep p with all the payments also. Most web software will…"
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Joe Del Rio's Discussions
Westlake Financial (Recent)
Started this discussion. Last reply by Titan Crawford Dec 21, 2011. 32 Replies 0 Likes
I have been approached by Wetlake Financial. I found a thread on them but was wondering if there was any recent feedback on them. the way I figure theres gotta be something there because it seems…Continue
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Joe Del Rio replied to David's discussion Need software advice. in the group BHPH Dealer Education and Training
Titan Crawford replied to Joe Del Rio's discussion Westlake Financial (Recent)"Hi,
I'm a Oregon dealer that runs in the 120-160 units a month range. My BHPH is about 10-15 deals a month. We are a true sub prime store. I would say in the last 5 months, we have averaged 30-40 per month with westlake.…"
Frank replied to Joe Del Rio's discussion Westlake Financial (Recent)"This is a reply to Jordyn Jacobs-
Good to see that Westlake has changed the policy on informing dealers about buy backs as it was not that way when Gilbert Calvo, one of Westlake's most loyal and oldest reps, trained me on the program.
I always…"
Jordyn Jacobs replied to Joe Del Rio's discussion Westlake Financial (Recent)"Frank,
I think you have some very misconstrued ideas of how the Westlake system works. Yes, you are able to generate reports in dealer center for our profit builder and partner programs. With our standard program you are alerted the day the…"
Frank replied to Joe Del Rio's discussion Westlake Financial (Recent)"Yes I have, and in one case they required I pay them back more than I got from them in an advance. What does that indicate to you about me ? If they can give you information on two of their programs why is it so hard for them to do it on…"
Stephen Mullis replied to Joe Del Rio's discussion Westlake Financial (Recent)"Have you ever had to buy a deal back? So far(6 years) we have not had to buy one back from them."
Frank replied to Joe Del Rio's discussion Westlake Financial (Recent)"When I recourse a deal I want to know the 1st. day the customer is late so I can contact them and get them to pay before they default. It does not do any good to contact them after Westlake requires you to pay off the contract. I have never gotten a…"
Stephen Mullis replied to Joe Del Rio's discussion Westlake Financial (Recent)"Just to be clear, I do not work for Westlake. We are a dealer and use them for subprime deals. The only recourse on the Standard program is first payment default and if the customer misses that payment they mail us a letter the next day…"
Frank replied to Joe Del Rio's discussion Westlake Financial (Recent)"I was referring to your "Standard" program that is about 99% of your business as to not being able to track payments. Can I see those on Dealer Center ? Why only show the least used programs and not your main "standard" program…"
Stephen Mullis replied to Joe Del Rio's discussion Westlake Financial (Recent)"At anytime you can pull a report in Dealer Center and instantly look at the profit builder and partner programs accounts and it separates them by current and delinquent accounts.
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Frank replied to Joe Del Rio's discussion Westlake Financial (Recent)"Unlike other lenders ,Westlake will give you no information if an account is late that has been recourced by you. You are not allowed to help in the payment process with your customer. There is no transparentency in doing business…"
Jordyn Jacobs replied to Joe Del Rio's discussion Westlake Financial (Recent)"Stephen,
Thank you for clarifying that the 3 month recourse applies to our Profit Builder program. When you plug a deal into our Dealer Center DMS, the program will generate 3 different approvals for the different programs we offer. From there, you…"
Stephen Mullis replied to Joe Del Rio's discussion Westlake Financial (Recent)"The 3 payment recourse is for the profit builder program. We use only the standard programs and the only recourse is for first payment default and failure to secure a valid lien."
Stanley Fraser replied to Joe Del Rio's discussion Westlake Financial (Recent)"I had a very hard time with the dealer agreement it was very legal tricky. I decided to try it out to see if it would work for me."
Frank replied to Joe Del Rio's discussion Westlake Financial (Recent)"It's all for Westlake and none for the dealer."
David Blassingame replied to Joe Del Rio's discussion Westlake Financial (Recent)"We started to use them as one of our sub-prime lenders. The Westlake dealer agreement had some language that seemed to say that we'd have to buy the entire deal back if any number of things occured...some of them completely out of our…"
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