At a glance

- Availability
- Affordability
- Customer Experience
- Transparency
About Westlake Financial
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Loan amount
$5,000 to $30,000
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Min. credit score
Not specified
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APR from
2.99% to 29.99%
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Funds available in
As soon as the day you apply
Loan amount
$5,000 to $30,000
Min. credit score
Not specified
APR from
2.99% to 29.99%
Funds available in
As soon as the day you apply
Here are some advantages and disadvantages of Westlake Financial auto loans.
Flexible acceptance criteria
Same-day funding available
Rates published online
Limited vehicle choices
High maximum APR
Poor customer reviews
Westlake Financial serves drivers looking to purchase and finance their next vehicle all in one place. The online marketplace encourages prequalification and offers loans for new and used vehicles. It partners with over 30,000 dealerships across all 50 states and offers indirect loans via these partnered dealerships.
Westlake Financial does not carry any requirements regarding income or credit score. But the high maximum APR means that unless your credit is at least fair you may be stuck with high interest rates.
Westlake Financial offers indirect auto loans for new and used vehicles through its partnered dealers. According to Westlake’s website, approval and funding can be available in real-time up to a maximum of two days.
A loan with Westlake Financial is best for a driver that prefers to finance their vehicle through a dealer rather than a direct lender. The fully online system also allows for fast funding and a seamless online contract process.
Westlake Financial functions as an indirect lender. While you will prequalify for the loan online, you must go in person to a dealership in order to finalize the deal. To apply for an auto loan, follow these three steps.
Overall score | 4 | |
---|---|---|
Availability | 3.6 | The dealership requirement and low maximum loan amount leave Westlake with a middling availability rating. |
Affordability | 3.6 | Although Westlake considers aspects other than sole credit history, the maximum APR is much higher than competitors. |
Customer experience | 4.4 | An unspecified shopping window combined with poor online reviews are outweighed by long customer service hours and good quality-of-life options. |
Transparency | 4.5 | Rates and fees are only somewhat displayed, but the option to prequalify increases the score. |
Bankrate considers 18 data points when rating auto loan lenders. These include credit requirements, loan amount, APR ranges, shopping window along with rate and fee availability. In total, Bankrate reviewed 33 lenders and gave each a Bankrate rating, which consists of four categories: