LOS ANGELES–(BUSINESS WIRE)–DealerCenter, the renowned automotive dealer management system, partners with Westlake Capital Finance (WCF), a commercial lending entity under Westlake Technology Holdings, to provide Buy Here Pay Here (BHPH) dealers a line of credit to finance their customers directly.
BHPH allows customers to purchase a vehicle from the dealership and make loan payments directly to the dealership without the need of utilizing a finance company or Bank. This is an ideal option for those consumers who may not qualify for the traditional auto loan to free up customer’s cash and allow for financial flexibility.
DealerCenter, with access to an expansive portfolio of 3,000+ active BHPH dealers and counting, and an active balance of $750 million, dealers can explore a range of financing options to better support their customers’ automotive purchases and revolutionize the BHPH landscape. WCF offers lines of credit allowing BHPH dealers to save up to 50% on monthly credit line payments and gain immediate cash from their portfolio. This results in an improved cash flow, so dealers can free up more cash on hand, making it easier for them to finance customer car purchases, and alleviates the financial strain caused by outstanding balances resulting from installment payments.
“BHPH financing opens the door for comprehensive financing solutions for both dealerships and customers alike,” says Jay Kamdar, President of Nowcom. “It is our hope that through this partnership, dealers will increase their opportunities to serve a broader customer base.”
It is expected that this venture will result in an expanded customer base, optimized operations, and increased financial freedom for customers seeking quality vehicles. For more information about DealerCenter visit www.dealercenter.com.
About Westlake Technology Holdings: Westlake Technology Holdings is an auto and finance technology company headquartered in Los Angeles, CA with approximately $15 billion in assets under management. Westlake Financial (“Westlake”) originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and power sports dealers. Westlake also offers credit facilities and commercial real estate loans through Westlake Capital Finance (WCF); portfolio servicing through Westlake Portfolio Management (WPM); floor plan lines of credit are provided through its 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 through Westlake’s subsidiary, Credit Union Leasing of America (CULA); dealer leads and direct-to-consumer auto loans are offered through Westlake Direct; consumer installment loans are offered through Westlake’s wholly-owned subsidiary LoanCenter, www.loancenter.com.
About DealerCenter:
DealerCenter is a dealer management system designed specifically for automotive dealerships. DealerCenter is a leading provider of innovative automotive software solutions, empowering automotive dealers with cutting-edge technology to optimize their operations and enhance customer experiences. With a mission to revolutionize the industry, DealerCenter’s comprehensive suite of tools and features allows dealerships to thrive in the increasingly digital landscape. DealerCenter is part of the Nowcom Corporation, a company that provides software solutions for auto dealerships and related businesses. To learn more about DealerCenter, visit www.dealercenter.com
Contacts
David Goff, VP, Marketing
Email: dgoff@westlakefinancial.com
