Westlake Financial Dealer Agreement

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BALTIMORE – May 24, 2017 – Westlake Financial Services announced a partnership with eOriginal, Inc. to digitally transform its auto dealership management system into an electronic contract solution to improve the customer experience, increase efficiency and accuracy while speeding up the financing process from days to hours. Harmon also noted, “This seamless transfer of contract data significantly reduces the time it takes to secure a full financing package and allows our acquisition team to get to work faster. Several dealers received same-day financing for Westlake`s eContracting solution. Headquartered in Southern California, Westlake enters into indirect instalment contracts through a network of more than 20,000 new and used car dealerships in the United States. Auto Finance Excellence spoke with Vazquez about Westlake`s plans to address industry challenges and how automation has helped the full-spectrum lender improve its value proposition for merchants. The following is an edited version of Vazquez`s conversation with AFE. Mark Vazquez: There`s one thing that has never changed since I started working at a car dealership with my dad in the industry: interest rates are never low enough, fees are never low enough, advances are never high enough, and getting money is never fast enough. [The lesson is] to understand that we will never be able to make all traders completely happy when it comes to price. “At Westlake, we are committed to providing merchants and consumers with the most seamless financing solutions,” said Mark Vazquez, senior vice president of sales and marketing at Westlake Financial Holdings. “With Dealertrack Accelerated Title, we can edit titles faster to allow resellers to roll up their inventory faster and reduce their maintenance costs. In today`s condensed margin environment, saving time and money for our business partners is the key to success, as we all strive to improve the customer experience by streamlining the financing of their purchases for all parties involved. Executives say the new program, designed for car buyers with a 750 FICO or better, is part of the financial source`s initiative to become a one-stop shop for every car dealership.

“Our two main customer groups are car dealers and buyers, and e-contracts both allow us to serve better,” said Casey Harmon, senior vice president of corporate development at Westlake. “The DealerCenter eContracting solution is a more efficient and accurate process for our dealer network, and we believe customers will appreciate simplicity.” The usual refrain of traders “We don`t hear enough about you” prompted Westlake to review its trading strategy. These efforts have paid off,” said Mark Vazquez, senior vice president of sales and marketing at Westlake. About Cox AutomotiveCox Automotive Inc. makes it easy for everyone to buy, sell, own and use cars. The company`s more than 34,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car buyers, 40,000 car dealerships on five continents and many more in the automotive industry thrive for generations to come. .