Westlake Financial

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I Do Not Understand
Posted by on
SAN DIEGO, CALIFORNIA -- I had a car loan through Westlake Financial, I fell into a hardship around February 08, I talked to a supervisor there who told me as long as I had a payment in thereby close of business everything would be okay. So I let them know I get off at 6 and I would have the money sent money gram supervisor agreed hours past by and someone called me to my front office and there was a guy out therefor me he said he was a repo guy I asked what he was doing there he said to take car I was like that's impossible I just talk to a supervisor so I called supervisor back she couldn't believe they were there she was like let me talk to tow guy so they could leave your car there he told her he couldn't release car because already hooked to tow truck so me not knowing I was like okay so a hour later I went out to see if car was gone it wasn't it was being blocked by two cars so after a while it was towed.

Months past by I couldn't get car back because of all extra fees I started getting calls over and over from Westlake finally a Lagila called me trying to make a deal with me she said we don't want to see you loose your car loan so what we will do is take a 400.00 Payment from you make your account current and ad your past due at the end of your loan as long as you pay that before April 1 we will give you your car back I made the payment called back to get address to pick up car I started getting run arounds then I finally got [snip] back on the phone she said oh I'm sorry we sold your car I'm out of 400.00 And a car.
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Slimjim on 03/31/2008:
Some strange accounts of the events. Repo guy says he has car hooked but it's not an hour later. The fact the repo guy even looked for you doesn't even sound right. It's a shame they weren't a little more honest instead of grabbing that last payment from you but I guess they figured you owed it and then some. I guarantee she knew that car was not going to be retrievable once it was repossessed regardless of what you did.
Suusan B. on 03/31/2008:
Something doesn't sound right about this saga - - the last thing a repo company does is contact the person whose car they are going to tow - - they grab it and leave. These subprime companies are bottom feeders and will do whatever it takes to extract money from people who owe them. I'm with Slimjim - - your car was long gone before the "supervisor" offered you the opportunity to get it back in exchange for a payment of $400.
Anonymous on 03/31/2008:
Quote of the year by Suusan B. "These subprime lenders are bottom feeders and will do whatever it takes to extract money from people who owe them". Seems to me the bottom feeder is the poster, wander what you would do if someone owes you money. Along with a very narrow opinion of what really happened (nice way to say one who does not tell truth), I wonder how many times the finance company tried to contact the poster that went ignored? Repo guys are the last resort. Legally any finance company must grant a customer the right to redeem the car for two weeks, then they send it to auction. You want to know the real problem here? READ THE FIRST 3 WORDS OF THE SECOND PARAGRAGH!!!!!!!!
Principissa on 03/31/2008:
I'm not trying to place blame, but companies don't just repossess your car unless you are more than 90 days past due on your account. And even then they send you notices for up to a month stating you owe X amount and it must be paid in 30 days or your vehicle will be repossessed. So really, you have 150 days before they start the repossession process. If this truly is a bottom feeding lender, take your complaint to your states attorney general.
Anonymous on 03/31/2008:
Princi, don't believe that, legally they can repo your car if you are 1 day late. Although they usually do take every step they can to prevent it.
Nohandle on 03/31/2008:
No matter the company your car is financed through, if you don't make the payments as agreed they WILL come get your car. I have an employee who called in one morning stating someone had stolen his car during the night and he was waiting for the police to arrive. In this particular case his wife had taken the title to his car and gone to one of those places that advertise "give us the title to your car and we'll give you the loan." Well, hello...if you don't make the payments they will certainly come get your vehicle. The tow company's contract is with the lender, no matter if it is a legitimate lending institution or not. They don't deal with the owner of the vehicle.

Sorry this happened to you, but Westlake Financial was trying to recoup all they could. They lied to you...probably, but did you promise them something in the past and never came through?
Aerocave on 04/01/2008:
I'm sorry you fell on hard times, but it is what it is. You do not make payments, your car will be reposessed. You may be out of a car...but trust me, the bank is not happy either. No one wins in these situations.
Anonymous on 04/01/2008:
Never ever borrow money at interest to buy a depreciating asset. NEVER - EVER.
Aerocave on 04/01/2008:
Not everyone has millions like you Stew. With all due respect, if everyone lived by your mindset, sales of automobiles would be virtually non-existent.
Anonymous on 04/01/2008:
Don't borrow money to buy a car? That has to be one of the stupid things I have ever read. Let's just stop selling cars! "He doesn't know what he is talking about"!
Anonymous on 04/01/2008:
I don't have millions. I'm 36 and a couple of years ago I bought the first car in my life that cost more than 1500 dollars and yes I paid cash. Instead of spending my 20's and early 30's paying finance charges and full coverage insurance premiums and taxes on assets that would be worth virtually nothing today I chose to put my money else where. Maybe it's just me but an automobile is an expense not an investment. My goal is to minimize my expenses as much as possible.. that's just good business sense. The truck I'm driving now is a Dodge work truck with virtually no extras except for a stereo and A/C. I don't go in style but that's okay I don't live payday to payday either nor do I have a penny of debt to my name. I like it that way.
Anonymous on 04/01/2008:
You can do it the Stew way, or my way...

Marry a rich girl!
Aerocave on 04/02/2008:
Well Stew maybe that works for you...but think about how you buy these cheap vehicles--they are traded in on newer vehicles. Again, most people do not have $10k, $20k or more to "pay cash"--which by financing and trading in their older vehicles--everyone--including yourself--wins.
ckc27 on 04/10/2009:
This person is so telling the truth!! I also have a loan through stupid Westlake financial!! My boyfriend and I were in the process of moving and we needed a day or two to get our payment in and they agreed to it and the next day my brother called and said the repo guy was there trying to get our car! I couldn't believe it since I just talked to them! And the payment wasn't even a month late. Just a few days! Our very first payment was due on September 2nd which was labor day I do believe and the offices were closed and I knew that, so I figured since it was a holiday the payment would post the next day. So the week before it was due I sent the payment but I over nighted it so that way I knew for sure it would be there on time before the 2nd!! I spent freakn $17 just to over night a damn money order in an envelope!!!! Our next bill came and they said that our payment was late and that they did not receive it until September the 12th!! How the hell is that even possible since I over nighted it!! Then they had the nerve to tell me that any payment sent in takes 10 days to process! There is no way on this gods green earth it takes that long to post a payment!! I used to work in a payments department posting payments matter of fact and it took all of 1 minute to enter the information! They are a low down dirty finance company who specialize in making it worse for u than u already have it!!
BeenThereDoneThat on 04/29/2009:
Some of the comments on here are comical and incorrect. It's too bad that simply_disgusted was given the runaround with Westlake Financial. It sounds like they should be able to get their last payment returned since it was made with the promise of getting their car back. I would suggest they contact the Attorney General in California and log a formal complaint. The Better Business Bureau is also a good place to lodge a complaint as well. Larger financial companies DO respond to these complaints and are loath to have negative press from these agencies.

The comments that were WAY off base were:
1) Finance companies cannot repossess your car till you are 90 or 120 days past due. This MYTH has been spread to many people. Depending on the laws in your state, you can have your car repo'd at 1 day past due. In fact, they have the ability to recover their collateral if they deem it "in jeopardy". If you drop your insurance, you are putting the collateral in jeopardy. How? With no insurance, the finance company is nervous that one accident leaves them with no collateral and (by and large) customers don't pay when their car is totaled. Don't worry, though, most finance companies don't repo their customers for dropping insurance...

2) Someone commented it was odd that a repo company would make contact with someone with their car hooked up. This is more and more common now...these repo companies often have contracts with the finance companies that they MUST provide a key to the cars they recover. 15 years ago, this was no big deal for them to cut a key. Now, keys often can't be cut that easily and some cars (Mercedes) have keys that cost $400 to replace (due to security features). These repo companies don't want to cut into their profits so they will contact the person they are about to repo and offer for them to get their personal property out of the car before they take it away in exchange for the key.

Good luck
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Never Use Westlake
Posted by on
LOS ANGELES, CALIFORNIA -- My husband and I got a 99 Suburban for Westlake. All was good till our first payment was due. He was to get paid the day after our payment was due and I was already receiving phone calls from them saying our payment was late!!! This went on for almost a year. Then we fell in to some hard times, and were late on our payments. We asked if they could work with us so we could keep our truck. they agreed to do so only if I could could come up with $650 in less than 48 hours!! or they would have to begin the paper work to representative the truck. Well we couldn't get them money that fast, so the next time they called I tried to explain to them I could make small payments every week until we could again make one monthly payment. They said NO Way and started to threaten me and my family. So I let them take my truck in hopes that I could get the money two weeks later so I could get it back but then they started to add all these charges on to my bill so I would have to pay more before I could get it back. Well we ended up letting go of our truck and now we still have to pay $7800 for a truck they re-sold for 1300.

I will never give them a good reference to anybody considering we tried to work things out with them and they still would not give us a break.
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User Replies:
msnanny on 12/15/2008:
They are not legally obligated to "give you a break". I'm sorry that you lost your vehichle but that's what happens when you can't make the payments. Good luck to you.
Tc1073 on 12/15/2008:
So you purchased truck and got a loan knowing that you did not have the money until after the bill was due? Its not the loan companies fault, they don't owe you anything, you agreed to the terms when YOU signed the paperwork. I hope you learned a valuable lesson.
MyDogsMom on 12/15/2008:
This might be a shocker but they probably won't give you a good reference either. You're supposed to be paid BEFORE your first payment is due, not after.

It's a bummer you couldn't work it out with them but a deal is a deal.

Anonymous on 12/15/2008:
Did you know that you can negotiate the due date prior to signing anything?

Also, there is typically a 10 day grace period for late payments on a car note (before the late fee kicks in), so even if you didn't have the money til the day after the due date, you should have been fine.

And yes, once a bank repos a vehicle, that doesn't mean you aren't still legally obligated to pay them.

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