DealerCenter, an automotive dealer management system, is partnering with Westlake Capital Finance, a commercial lending entity of 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 a dealership and make loan payments directly to the dealership without the need of utilizing a finance company or bank.
DealerCenter has access to a portfolio of more than 3,000 active BHPH dealers and counting and an active balance of $750 million. Westlake Capital Finance offers lines of credit that allow BHPH dealers to save up to 50% on monthly credit line payments and gain immediate cash from their portfolios.
“BHPH financing opens the door for comprehensive financing solutions for both dealerships and customers alike,” Jay Kamdar, president of Nowcom, said. “It is our hope that through this partnership, dealers will increase their opportunities to serve a broader customer base.”
Westlake Technology Holdings is an automotive and finance technology company headquartered in Los Angeles with approximately $15 billion in assets under management.
