What Westlake Financial Services is and how payments work
Westlake Financial Services is a subprime auto lender — it finances car purchases for buyers with lower credit scores, past defaults, or limited credit history. If you financed a vehicle through Westlake, your loan is held by the company, and you send payments to them rather than to a bank or credit union.
Westlake operates as a captive finance subsidiary, meaning it finances cars sold through specific dealerships and dealer networks. The company also purchases loans from other lenders, so you may find yourself with a Westlake loan even if you did not originally finance through them. Payments go to Westlake's payment processing center, not to the dealership where you bought the car.
The mechanics of payment are straightforward: you owe a fixed monthly amount, due on a specific date each month, for a term that typically runs 48 to 84 months. Missing a payment or paying late triggers late fees and can damage your credit score. Westlake reports payment history to credit bureaus, so on-time payments build credit, while missed payments harm it.
Key Takeaways
- Westlake Financial Services is a subprime auto lender that finances vehicles for buyers with lower credit scores and holds the loan throughout the repayment period.
- You can make payments online through Westlake's website or mobile app, by phone, by mail, or through automatic bank transfers, and each method has different processing times.
- Late payments trigger fees and credit damage within 30 days, so contacting Westlake before a payment is due is more effective than waiting until after you miss it.
- If you face hardship, Westlake offers options like payment deferrals or loan modifications, but you must request them before you fall behind, not after.
- Westlake can repossess your vehicle if you fall significantly behind on payments, and the repossession process can begin as early as 60 to 90 days of nonpayment depending on your loan agreement.
How to make a payment to Westlake
The fastest way to pay is through Westlake's online portal at westlakefinancial.com. You log in with your account number and password, enter the payment amount, and choose the payment date. Online payments typically post within one to two business days. You can also set up automatic payments from your bank account, which ensures you never miss a due date — the payment withdraws on the date you choose each month.
If you prefer not to use the website, you can call Westlake's payment line at 1-800-252-3373 to make a payment by phone using a debit card or bank account. Phone payments are processed the same day you call if you call before 5 p.m. Eastern time. Mailing a check is also an option, but checks take 7 to 10 days to arrive and clear, so mail payments should be sent well before your due date to avoid late fees.
Some Westlake borrowers can also pay through third-party payment services like PayPal or Venmo if they link their Westlake account, though this is less common and depends on your account setup. Always verify the exact mailing address or payment portal with your loan documents or by calling customer service, because sending a payment to the wrong address delays posting and may result in a late fee even if you sent it on time.
What happens if you miss a payment
A payment is considered late if it is not received by 11:59 p.m. on the due date. Westlake charges a late fee — the amount varies by state and loan agreement but typically ranges from $15 to $25 — and reports the late payment to credit bureaus. A single late payment can lower your credit score by 50 to 100 points depending on your current score.
After 30 days of nonpayment, the late payment appears on your credit report and Westlake may begin collection calls. After 60 to 90 days of nonpayment, depending on your loan agreement and state law, Westlake can begin the repossession process. Repossession means Westlake sends a tow truck to seize the vehicle, and you lose access to the car when ready. You are still responsible for the remaining loan balance even after the car is repossessed and sold at auction.
The key difference between missing one payment and missing several is that one late payment can be recovered — you pay the late amount plus the late fee, and your account returns to current status. Missing multiple payments in a row puts you in default, which is much harder to recover from and can lead to repossession, a deficiency judgment (where you owe the difference between what the car sells for and what you still owe), and years of credit damage.
Hardship options before you fall behind
Westlake offers payment deferrals and loan modifications for borrowers facing temporary hardship. A deferral postpones one or more monthly payments to the end of your loan term, so you skip a payment now and add it to the back of your loan. A modification changes the terms of your loan — it might lower your monthly payment by extending the loan term, or it might reduce the interest rate. These options exist, but Westlake will only consider them if you contact them before you miss a payment.
To request hardship information, call Westlake at 1-800-252-3373 and ask to speak with a loan specialist or hardship department. Have your account number ready and be prepared to explain your situation — job loss, medical emergency, reduced income, or unexpected expense. Westlake will ask for proof of hardship, which might include a termination letter from your employer, medical bills, or a written explanation of your circumstances.
The approval process typically takes 5 to 10 business days. Westlake will send you a written agreement outlining the new terms. Do not assume you are approved until you receive this in writing — verbal approval is not binding. If you are approved for a deferral, the deferred payment is added to your loan balance and you owe interest on it, so a deferral costs you money in the long run but prevents when ready default and credit damage.
Loan payoff and refinancing options
If you want to pay off your Westlake loan early, you can do so without penalty — Westlake does not charge prepayment penalties. To find out your exact payoff amount, log into your account online or call customer service. The payoff amount includes your remaining principal balance plus any accrued interest through the payoff date. Paying in full stops all future interest charges and releases the lien on your vehicle, meaning you own the car outright.
Refinancing is another option if your credit score has improved since you took out the Westlake loan. A credit union, bank, or online lender may offer you a lower interest rate, which reduces your monthly payment or shortens your loan term. To refinance, you explore with a new lender, they pay off your Westlake loan in full, and you make payments to the new lender instead. This only makes financial sense if the new interest rate is significantly lower than your current rate and the new lender's fees do not erase the savings.
Before refinancing, check your credit report to see what score you have now and what interest rates you might may have access to for. You can get a free credit report from annualcreditreport.com. If your score has not improved much, refinancing may not save you money. If it has improved substantially, shopping around with at least three lenders gives you a realistic picture of what you can get.
Understanding your loan documents and account details
Your Westlake loan agreement is a legal contract that spells out your interest rate, loan term, monthly payment amount, due date, late fees, and what happens if you default. Read this document carefully when you receive it, because it contains the rules that govern your loan. If you cannot find your original agreement, log into your Westlake account online and look for a "Documents" or "Loan Details" section, or call customer service to request a copy.
Your monthly statement shows your payment due date, the amount due, how much of your payment goes to principal versus interest, your remaining balance, and any late fees or other charges. Early in your loan, most of your payment goes to interest; later, more goes to principal. This is normal and is called amortization. Understanding this helps you see why paying extra principal early in the loan saves you significant interest over time.
If you notice an error on your statement — a payment that did not post, a charge you do not recognize, or an incorrect balance — contact Westlake in writing within 60 days of the statement date. Send a letter to the address on your statement explaining the error and include a copy of the statement. Westlake must investigate and respond within 30 days. Do not ignore errors, because they can affect your credit report if they are not corrected.
Repossession: what triggers it and what you can do
Repossession is a legal process that Westlake can begin if you fall behind on payments. The exact trigger varies by state and your loan agreement, but most Westlake loans allow repossession after 60 to 90 days of nonpayment. Some states require Westlake to send a written notice before repossession; others do not. Once repossession begins, a tow truck can come to your home, workplace, or anywhere the vehicle is parked and take the car without warning.
If your car is repossessed, you have a short window — usually 10 to 30 days depending on state law — to reclaim it by paying the full amount you owe plus repossession and storage fees. These fees can total $500 to $1,500 or more. After that window closes, Westlake sells the car at auction. If the sale price is less than what you owe, you are responsible for the difference, called a deficiency. Westlake can sue you for the deficiency and garnish your wages or bank account to collect it.
If you are facing repossession, contact Westlake when ready and ask about a payment plan, deferral, or loan modification. Explain your situation and ask what it would take to bring your account current. Some borrowers can negotiate a partial payment plan that stops repossession while they catch up. This is not may provide, but it is worth asking before the car is taken. Once repossession happens, your options shrink dramatically.
Frequently Asked Questions
Can I make a partial payment to Westlake if I cannot pay the full amount?
Westlake will accept a partial payment, but it does not stop the late fee or the late payment from being reported to credit bureaus. A partial payment shows good faith and keeps your account from going deeper into default, but it does not bring your account current. If you can only pay part of what you owe, contact Westlake first to discuss a payment plan or deferral option.
What is the difference between a payment deferral and a loan modification?
A deferral postpones one or more payments to the end of your loan — you skip payments now and owe them later with interest added. A modification changes the loan terms permanently — it might lower your monthly payment by extending the loan or reduce your interest rate. Deferrals are temporary; modifications are permanent changes to your contract.
If I pay off my Westlake loan early, do I owe a penalty?
No. Westlake does not charge prepayment penalties, so you can pay off your loan at any time without extra fees. Paying early saves you interest because you stop accruing interest charges once the loan is paid in full. Call Westlake to get your exact payoff amount before sending a lump sum payment.
How long does it take for a Westlake payment to show up in my account?
Online and automatic payments typically post within one to two business days. Phone payments post the same day if you call before 5 p.m. Eastern time. Mailed checks take 7 to 10 days to arrive and clear. Always allow extra time for mailed payments to avoid late fees.
Can Westlake repossess my car if I am only one payment behind?
Legally, Westlake can begin repossession after one missed payment in most states, but in practice most lenders wait 60 to 90 days of nonpayment before sending a tow truck. However, do not rely on this — contact Westlake as soon as you miss a payment to discuss options. Waiting until repossession begins leaves you with almost no negotiating power.