reviews

Westlake Financial auto loans: 2025 review

Written by
Denny Ceizyk
Edited by
Pippin Wilbers
Updated on August 29, 2024

At a glance

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3.9
Bankrate Score
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Availability
3.1
Affordability
3.8
Customer Experience
4.8
Transparency
4.0

About Bankrate Score

Full methodology

Bankrate’s take

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.

Lender Details

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Loan amount

$5,000-$30,000

Rates Icon

APR from

4.99%-29.99%

Credit Good Icon

Min Credit Score

Not Specified

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Funds available in

Not Specified

Westlake Financial is best for rate-shopping with dealers

Westlake Financial takes the legwork out of finding a dealer loan with competitive terms. Instead of applying for financing with several lenders, simply submit a brief questionnaire and, if there’s a fit, view loan quotes from dealer partners. This means you can explore several auto loan options in a fraction of the time you’d spend searching for and applying directly with lenders. You can also shop through new or used vehicles through Westlake’s platform, making it a convenient all-in-one car-buying experience.

Types of car loans that Westlake Financial offers

Westlake Financial offers indirect auto loans for new and used vehicles through its partnered dealers. According to Westlake’s website, you can get prequalified in minutes, though it’s unclear how long offers are good for. 

New auto loans Used auto loans
APR 4.99%- 29.99% Not Specified
Loan amounts $5,000-$30,000 $5,000-$30,000
Loan terms 48 months-72 months 48 months-72 months

New auto loans 

Westlake’s maximum loan amount of $30,000 is a bit low for a new car, especially as average prices are nearly $50,000, according to Cox Automotive. A rate below 5 percent is competitive, but keep in mind that only highly qualified borrowers will secure an APR that low. 

Used auto loans 

Westlake has the option to filter for used and certified pre-owned vehicles. Used auto loans have the same loan amount limits and terms as new ones. However, with used prices averaging below new, a maximum of $30,000 goes further. Westlake carries some restrictions for its used vehicles: mileage below 120,000 and no vehicles older than 10 years. 

Where Westlake Financial stands out

  • Flexible acceptance criteria: Most lenders focus on a borrower's creditworthiness. This can make it challenging for those with less-than-perfect credit to secure a good rate. Westlake, though, factors in each applicant’s education, employment history and credit. 
  • Financial hardship extension: Borrowers experiencing financial hardship can defer one or more of their payments. 
  • Compare offers: Borrowing from a loan marketplace like Westlake Financial makes it seamless to compare offers from multiple dealerships.

Where Westlake Financial falls short

  • Limited vehicle choices: Unlike some lenders that allow you to use funds at any dealership, Westlake has some restrictions. Financing is only available for vehicles found at dealerships that the lender partners with. 
  • Indirect lender: To finalize your auto loan, you must go to a dealership in person. This is a downside for a borrower who prefers a seamless online transaction.
  • Poor customer service reviews: The lender has consistently poor reviews online. Many of the complaints found on the Better Business Bureau’s website reference extra fees, extreme interest rates and poor communication. 

Westlake Financial customer resources

Customer support

Westlake Financial’s customer service team can be reached over the phone Monday through Friday from 9 a.m. to 9 p.m. and Saturdays from 10 a.m. to 7 p.m. at 888-893-7937.

Digital experience 

Customers handle most of the shopping and financing process on the Westlake Financial website It is fairly easy to navigate and allows you to search dealer inventory in your area online. This streamlines the shopping experience and should be easy even for less tech-savvy borrowers.  

However, after receiving your final offer, you’ll have to print it out and take it to the dealership in person to complete the purchase.

How this lender compares

Westlake Financial vs. myAutoLoan

Unlike Westlake Financial, myAutoLoan does not partner with dealerships to offer auto loan financing. Instead, it’s an online marketplace that matches you with lenders based on your financial profile. You can use the platform loan quotes and decide which is best for you before formally applying. 

Like Westlake, myAutoLoan offers loans for new and used car purchases, but they also offer refinancing and lease buyouts. Rates start at a competitive 7.15 percent for new car loans. You can use myAutoLoan to find direct lenders in minutes, and there’s no impact on your credit score. If approved, you’ll get a check or online certificate to go shopping at the dealership of your choice in as soon as 24 hours. 

Westlake Financial vs. Autopay 

Autopay is another online lending marketplace. It features lending partners specializing in financing solutions for consumers with various financial backgrounds. You can get financing to purchase or refinance a vehicle, buy out a lease or pull cash from your car’s equity. Similar to Westlake Financial, auto loans are available to consumers with all types of credit backgrounds. The maximum loan amount is $120,000, giving you even more purchasing power. 

Read a full comparison of Westlake Financial vs. Autopay

Do you qualify for a Westlake Financial auto loan?

Westlake Financial does not list any requirements regarding income or credit score. But unless your credit is at least fair, you may be stuck with a high APR (annual percentage rate). 

  • Must make a minimum down payment of 10 percent.
  • Vehicle must have less than 120,000 miles. 
  • Vehicle cannot be older than 10 years.
  • Have a lower loan-to-value ratio (LTV) than 110 percent.
  • Minimum monthly payment is $250.  

How to apply for a Westlake Financial auto loan

Westlake Financial functions as an indirect lender. While you will prequalify for the loan online, you must go to a dealership to finalize the deal in person. To apply for an auto loan, follow these three steps.  

  1. Apply for prequalification. First, apply for loan prequalification on its website by entering personal information, including your name, date of birth, contact information, address and employment status. This step will not affect your credit.
  2. Search for vehicles. Next, you can search for your vehicle directly through the online marketplace, which shares vehicles in your area based on budget and price range. You can also narrow your search criteria to monthly payment or type of vehicle.
  3. Finalize financing. Finally, you will receive a financing offer and go to one of the participating dealerships with the offer in hand. After you are fully approved for the loan and your purchase is finalized, you can begin payments either online, by check or via the phone. 

How Bankrate rates Westlake Financial

Overall score 3.9
Availability 3.1 The dealership requirement and low maximum loan amount leave Westlake with a middling availability rating.
Affordability 3.8 Westlake Financial has a low starting APR and middle-of-the-road maximum.
Customer experience 4.8 An unspecified shopping window combined with poor online reviews are balanced by long customer service hours and easy loan management.
Transparency 4 You won’t find fees clearly listed on Westlake’s site, but the option to prequalify increases the score.

Methodology

Bankrate's trusted auto loans industry expertise

Read our full methodology

48

years in business

26

lenders reviewed

20

loan features weighed

520

data points collected

The Bankrate team uses a 20-point system to evaluate auto loan lenders across four main categories.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

What customers think

What people are saying across the web about Westlake Financial 

Westlake Financial has very few reviews online, but those present fall on the more negative side. The lender has 63 total reviews averaging 1.5 out of 5 stars on third-party review site Trustpilot. Reviewers referenced high fees, poor communication and poor dealer experiences. 

Here’s what one borrower had to say, in part: 

“They are so unprofessional and they lie about “fees.” They know there is no repercussions and if you don’t pay the “fake” fees, they will repo your car. I wish I had read the reviews before I went with this company. They offered a slightly better interest rate than the other companies I could have went with, but the other companies don’t have nearly as many bad reviews. I didn’t know Westlake made their money in other ways then just interest fees.” 

— Trustpilot User

However, reviews are not all bad. Positive reviews referenced specific customer service representatives and their skills in solving issues caused by Westlake. 

Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate. Please see the issuer’s website for updated terms and conditions.

Community Westlake Financial scores

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Westlake Financial

Dive into community reviews below and see what others think about Westlake Financial.

3.7 Star Icon
21 ratings
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Score breakdown
5 stars
33%
4 stars
33%
3 stars
14%
2 stars
10%
1 star
10%
Score by category
Overall rating 3.7 / 5
Fees & closing costs 3.4 / 5
Funding time 4 / 5
Customer service 3.6 / 5
Application process 3.6 / 5
Online portal or mobile app 3.4 / 5
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In July 2024, Bankrate collaborated with a third-party vendor to survey 1.3K loan borrowers nationwide. Bankrate and our vendor collected and summarized borrower responses to five questions on a 5-point scale, three yes/no questions, as well as open-ended reviews of their loan experience. Responses are based on individual borrower’s product details, and therefore cannot be verified for accuracy. User ratings are unedited and have not been reviewed or approved by the associated lenders, nor do these ratings reflect Bankrate’s own expert review of these loan products.

Community Reviews

See what users like you are saying about Westlake Financial.
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Describe your experience with customer service
It was hard at first to communicate without the cosigner which the car in my name and paid by me. Once I told them and with some changes I'm able to finally communicate with them. Glad they fixed that.
Loan purpose
Used car loan
Score by category
Fees & closing costs 1 / 5
Funding time 3 / 5
Online portal or mobile app 2 / 5
Customer service NA / 5
Application process 4 / 5
Describe your experience with customer service
Rude customer service
Loan purpose
Used car loan
Score by category
Fees & closing costs 1 / 5
Funding time 5 / 5
Online portal or mobile app 3 / 5
Customer service 1 / 5
Application process 2 / 5
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