At WestlakeFinancial.com, you can get pre-qualified for your next auto loan before having to walk inside a dealership. When you pre-qualify, you can avoid spending unnecessary time at the dealership and complete your car buying process from the comfort of your home!
Simply so, can you prequalify for an auto loan?
Prequalification can help you determine whether you might be approved for a loan, and it can give you an estimation of rates you might receive when shopping for a car. … If you want or need a new vehicle and can’t afford to buy it with cash, you may need to finance it with a loan.
Regarding this, does Westlake finance bad credit?
Pros and cons of Westlake Financial auto loans
No minimum credit score required, but your score does impact your interest rate. No minimum income or job tenure required. Fast funding is possible — within two days (or the same day in some cases).
Does Westlake financial report to the credit bureau?
they report to credit bureaus and the handful of times i spoke with customer service i never had an issue.
The Gold Program offers loan terms up to 72 months, APRs as low as 7.99%, and low dealer fees. Similarly to customers that are in the Standard Program, customers with hard-to-prove incomes, open or discharged bankruptcies, and prior non-Westlake repossessions all qualify for the Gold Program.
Prequalification typically involves a soft credit inquiry, which does not affect your credit score, though some lenders may skip this altogether. You may also need to provide basic information like your annual income and monthly expenses.
Westlake Financial Identifies Significant Portion of All Income Misrepresentation with IncomePass™ by Point Predictive. … IncomePass provides a real-time assessment of an applicant’s stated income, which allows lenders to limit costly and time-consuming stipulations from low-risk borrowers.
Westlake Financial auto loan will typically approve (or deny) a car loan application within 24 hours and fund the car loan within 7 business days of approval.
The real moneymaker of the group, however, is Westlake Financial Services, a huge subprime auto lender that does business throughout the U.S., Mexico, India and the Philippines.
The company even has the ability to approve hard-to-finance customers with FICO scores under 599. In fact, Westlake Financial Services does not have a minimum FICO score requirement in place and will approve consumers with low incomes and past bankruptcies or repossessions.
Wells Fargo Extends Westlake Financial Services $100m Revolving Securitization Facility. Los Angeles, CALIFORNIA – March 2, 2010 – Westlake Financial Services, a full-spectrum indirect auto finance company, announces a new $100 million revolving securitization facility from Wells Fargo Preferred Capital.
Los Angeles, CA. July 21, 2015 – Westlake Financial Services, a full spectrum auto finance company, has been recognized by Equifax as the national auto lender whose customers see the highest credit score increase over the term of their loan.
Pre-approval is a conditional approval given to you from a lender to finance the purchase of a car. … At Capital One, you could be prescreened in order to receive a pre-approval offer for a range of financing.
pre-qualification. Preapproval means a lender has reviewed your credit report (not just the score) and other information to determine a loan amount and rate you’re likely to receive. Preapproval quick facts: Hard credit pull. You’ll likely get the offered rate (your car must also meet the lender’s criteria).