Does Westlake Financial use GPS?
InTouch VP - Westlake Financial. InTouch VP is a GPS Powered Theft Recovery & Asset Tracking system that enables dealers to easily monitor their automobile inventory to protect themselves and ultimately customers who purchase that automobile, against theft.
Some car dealers install GPS tracking devices on cars they sell. These trackers show the repo man exactly where your car is at all times. This means that if you miss one payment, the repo man might be able to track you down immediately to repossess your car.
Due to the high default risk, it is common practice for lenders to install GPS tracking devices on auto purchased via subprime loans. This way, the lender will be able to reduce the costs associated by the recovery, late payment and car mishandling.
Westlake Portfolio bought the debt. They are now the creditor. They can repo your car.
A similar class action lawsuit was filed in Pennsylvania in 2015 over the same violations for other individuals. In 2022, Westlake Financial agreed to pay over $225,000 to settle a lawsuit with the United States Department of Justice over violations of the Servicemembers Civil Relief Act.
There are a few methods they use to locate delinquent cars, including tracking devices, public records, databases and sometimes even good old-fashioned detective work. Many times, lenders will install GPS tracking devices in vehicles to help repossession agents quickly recover delinquent automobiles.
Car dealerships often install GPS trackers on financed cars to protect their financial interests.
As far as removing these GPS trackers is concerned, you need to locate them and unplug the device. The plug-and-play devices work when plugged into the car and not when it disconnects. It is easy to disable it. Also, the devices have an internal antenna and battery to keep sending the signals.
For hidden cars and even for some vehicles parked at great distances from a subject's typical haunts, a repo agent might use an electronic detector to track down a vehicle for repossession. These days, many lenders require that all new vehicles be equipped with such devices.
Perform an exterior inspection: Use a flashlight and mirror to check areas like the wheel wells and under the vehicle. Most trackers are hidden in easy-to-reach locations. The tracker may be dirty and difficult to see. Perform an interior inspection: Check the data port first.
Is Westlake Financial hard to get approved?
Applicants will submit a full credit application at the dealership for final credit approval, interest rate and loan terms. The loan itself is through WestLake Financial. Westlake has more flexible loan approval criteria than many lenders — such as no minimum credit history, income or credit score requirements.
You may be able to defer one or more payments if you're experiencing financial hardship, though this could mean that you end up paying more interest on your loan. You can change your car payment due date one time during your loan contract.
About. Westlake Financial is a technology-based, privately held full spectrum (subprime to prime) auto finance company serving over 30,000 independent and franchise dealers nationwide.
If you've been served with a lawsuit from Westlake Financial Services, it is extremely important you do not default or ignore the summons. The collector can have wages garnished, bank accounts levied, and liens filed against your car or home.
Westlake Financial is one arm under the Hankey Group of Companies.
Westlake Financial Services is an affiliate of the Hankey Group of Companies. Wells Fargo has provided the Hankey Group with financial products and services for over 20 years.
Repossession agents may watch your house or your relatives' homes. They can follow you when you leave your home. Repossession happens after parking your car for just a few minutes. Most public property is accessible for repossession activity.
The most obvious way to prevent a repossession company from seizing your car is to make up your missed payments. It's important to remember that all car loans are different. Just because you're a few days late on your payment, doesn't automatically mean you're in default.
License plate recognition software, GPS tracking devices, and online databases are all commonly used. These tools can quickly and accurately locate vehicles, even if the debtor has moved or hidden the vehicle. The law provides specific guidelines on how repossession should be carried out.
Do dealerships put GPS trackers on cars? Why? Yes, many dealerships install GPS trackers on their cars. It helps in managing and protecting the inventory, enabling quick recovery in case of theft and offering valuable data on the vehicle's usage and condition.
What does a dealership tracker look like?
Compact Design: Wireless GPS trackers are small and discreet, often resembling matchboxes or decks of cards, making them easy to hide within a vehicle's interior. Magnetic Casing: Many trackers feature magnetic casings, allowing them to slide under the vehicle and attach to the frame securely.
An unknown tracker alert is sent when someone else's tracker device is separated from them and if your Android phone detects the tracker is traveling with you and out of Bluetooth range from the owner. The notification alerts you to the tracker and tells you how to find it and what to do next.
However, if a customer does remove the GPS tracking unit, a tamper alert will be sent. This means it's been removed from the vehicle. Since it does have a backup battery, the device will continue to track. It gives the lender the chance to contact the customer and know the loan is probably at risk.
If you're looking to block GPS signals, wrapping aluminum foil around a GPS device is a common and successful way to do so. Aluminum foil induces a phenomenon known as Faraday Cage to disrupt the reception of GPS signals. This creates a barrier that prevents radio waves from reaching the GPS device.
Today, an increasing number of new cars come equipped with built-in GPS tracking systems. Luxury and high-end vehicles have often led the way in integrating sophisticated tracking technology, making GPS trackers a standard or optional feature in models from renowned brands like Mercedes-Benz, BMW, and Audi.
