LOS ANGELES--(BUSINESS WIRE)--Westlake Advanced Lending & Portfolio Services (ALPS), a division of Westlake Financial Services, announces the formation of a 2-year $4 Million credit line with Adonis Auto Group, LLC. (Adonis).
“We are excited to establish a partnership with Adonis Auto Group as they have proven to be a strong counterparty for Westlake Financial,” stated Todd Laruffa, Assistant Vice President of ALPS. “Their business philosophy and growth strategy was in line with Westlake’s vision and as a result a natural partnership was created. I believe this will be a mutually beneficial relationship for both companies,” concluded Laruffa.
Westlake ALPS replaced Spartan Financial Partners as Adonis’ exclusive institutional lender and now provides Adonis with a revolving credit line serving the dealership over the next two years. Westlake Financial Services also finances Adonis customers with full-spectrum credit financing options through Westlake Financial indirect lending and provides the dealership floor plan financing through Westlake Flooring Services. Adonis receives additional incentives by bundling these services with Westlake.
Adonis is a pre-owned independent auto dealership based out of Dallas, TX serving Arlington, Grand Prairie, Pantego, Irving and the surrounding areas. “We are pleased with our decision to select Westlake ALPS as our institutional lender. They stepped up to the plate and made their interest rates and fees competitive to win our business. Additionally, their operational requirements on the line are straightforward and easy for our staff to manage,” commented Eric Ryan, Adonis Operations Director.
Westlake Financial Services’ ALPS division also specializes in loan portfolio acquisitions and revolving credit lines from Buy-Here Pay-Here (BHPH) dealerships and finance companies. Dealerships, brokers, and finance companies interested in learning more about Westlake’s ALPS are invited to contact ALPS directly at 1.888.937.2577.
About Westlake Financial Services: Westlake is an internet based, privately held finance company that specializes in the acquisition and servicing of prime to sub-prime automotive retail installment contracts. Headquartered in Southern California, Westlake originates indirect retail installment contracts through a network of over 20,000 new and used car dealers throughout the United States. Westlake also offers portfolio purchasing through their ALPS division (Advanced Lending & Portfolio Services); www.WestlakeALPS.com. Flooring lines of credit are offered through their Westlake Flooring Services division; www.WestlakeFlooringServices.com. Direct consumer title loans and unsecured loans are offered through Westlake’s wholly owned subsidiary, Wilshire Consumer Credit. All collections and servicing functions are performed in-house at its headquarters located in the Mid-Wilshire area of Los Angeles.