LAS VEGAS--(BUSINESS WIRE)--Western Funding Inc. (WFI) announced today that it surpassed $1 million in dealer participation payouts through its “Triple Pay” program.
“This is a huge milestone for Western Funding,” stated Ian Anderson, Group President of WFI parent Westlake Technology Holdings. “Triple Pay is founded on the principle that everyone benefits when there is alignment between the lender, dealer and customer.”
The Triple Pay program allows dealers to build a portfolio of accounts and share in the profits. The program pays dealers three times: competitive up-front advances at origination, Express Dealer Check at pool closing, and back-end payments once the pool advances have been repaid.
“The team is proud to have passed the $1 million milestone in Portfolio Participation payments,” commented Jim Murray, President of Western Funding. “This milestone highlights the Triple Pay program’s success with our dealers. With our continued growth and solid portfolio performance, we look forward to passing the $5 million milestone in the near future.”
Western Funding Inc., headquartered in Las Vegas, NV, is a subsidiary of Westlake Technology Holdings. Western Funding continues to expand its participating dealer base across the United States. Independent and Franchise dealers who are interested in learning more about Western Funding’s Triple Pay program can visit https://westernfundinginc.com/triple-pay/.
About Western Funding, Inc.: Western Funding Inc., a subsidiary of Westlake Technology Holdings, is a specialized consumer finance company providing automobile financing to borrowers with limited access to traditional credit. Headquartered in Las Vegas, NV, Western Funding enables the origination and services installment loan contracts originated by its national network of automobile dealers.
About Westlake Technology Holdings: Westlake Technology Holdings is an auto and finance technology company headquartered in Los Angeles, CA with approximately $8.33 billion in assets under management. Westlake Financial Services originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and powersports dealers. Westlake also offers loan portfolio purchasing, credit facilities and portfolio servicing through their ALPS division (Advanced Lending & Portfolio Services); www.WestlakeALPS.com. Floor plan lines of credit are provided through their Westlake Flooring Services division; www.WestlakeFlooringServices.com. Shared cash flow auto lending through Westlake’s wholly owned subsidiary, Western Funding Inc., a Nevada based auto lender. Indirect automotive leasing for credit unions are through Westlake subsidiary, Credit Union Leasing of America (CULA). Dealer leads and direct-to-consumer auto loans are offered through Westlake Direct. Consumer title loans are through Westlake’s wholly owned subsidiary Loan Center; www.loancenter.com.