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
"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…"
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.…"
"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 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…"
"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…"
"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…"
"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…"
"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…"
"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…"
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…"
"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…"