Westlake Financial: What To Know About Towing

Nov 17, 2025 by Alex Braham 46 views

Navigating the complexities of vehicle financing can be daunting, especially when unexpected situations like towing arise. If you're dealing with Westlake Financial, understanding their towing policies and procedures is crucial. This comprehensive guide will walk you through everything you need to know about Westlake Financial and towing, ensuring you're well-prepared and informed.

Understanding Westlake Financial

Before diving into the specifics of towing, let's first understand who Westlake Financial is. Westlake Financial Services is a large auto finance company that provides indirect financing solutions to car dealerships across the United States. They specialize in helping customers with less-than-perfect credit obtain auto loans. This means they often work with individuals who may have had difficulty securing financing through traditional banks or credit unions.

Westlake Financial operates by purchasing retail installment contracts from dealerships. When you finance a car through a dealership that partners with Westlake, the dealership sells your loan to Westlake. From that point forward, Westlake Financial becomes your lender, and you'll make your payments directly to them. Given their role in auto financing, it's essential to understand their policies regarding various scenarios, including vehicle repossession and towing.

Knowing your rights and responsibilities under the loan agreement is paramount. Make sure to thoroughly read and understand the terms of your contract with Westlake Financial. Pay close attention to clauses related to default, repossession, and any associated fees. This knowledge will empower you to make informed decisions and protect your interests throughout the loan term. Also keep in mind that different states have different laws regarding repossession, so familiarize yourself with the regulations in your specific location. This information can often be found on your state's government website or by consulting with a legal professional.

Towing Policies and Procedures

When it comes to towing, Westlake Financial's policies are primarily concerned with situations where the vehicle is at risk of repossession due to missed payments or other violations of the loan agreement. Here's a breakdown of what you need to know:

Reasons for Towing

Payment Delinquency: The most common reason for Westlake Financial to initiate towing is payment delinquency. If you fall behind on your loan payments, Westlake has the right to repossess the vehicle as outlined in your loan agreement. The specific number of missed payments that trigger repossession can vary depending on the terms of your contract and state laws, but generally, repossession can occur after one or two missed payments.
Breach of Contract: Besides missed payments, other breaches of the loan contract can also lead to towing. This could include failing to maintain insurance coverage on the vehicle, moving the vehicle out of state without permission, or using the vehicle for illegal activities. Westlake Financial has a vested interest in protecting their collateral (the vehicle), so they will take action if they believe the vehicle is at risk.
Violation of Loan Terms: Your loan agreement likely contains various terms and conditions that you must adhere to. Violating these terms, such as unauthorized modifications to the vehicle or using it for commercial purposes when prohibited, can also trigger repossession and towing. Always review your loan agreement carefully to understand your obligations and avoid any potential violations.

Notification Process

Notice of Default: In many states, Westlake Financial is required to provide you with a notice of default before repossessing your vehicle. This notice will inform you that you are in violation of your loan agreement and give you a certain amount of time to cure the default (e.g., catch up on missed payments). The specific requirements for the notice of default, such as the information it must contain and the timeframe for curing the default, vary by state law, so it's important to understand the regulations in your location.
Repossession Warning: While not always required, Westlake Financial may also send you a warning letter or call you before initiating repossession. This is often done as a courtesy to give you a final opportunity to bring your account current and avoid repossession. However, keep in mind that Westlake is not obligated to provide this warning, and they can proceed with repossession without prior notice if they choose to do so.
Post-Repossession Notice: After the vehicle has been repossessed, Westlake Financial is typically required to send you a post-repossession notice. This notice will inform you that the vehicle has been repossessed and explain your rights and options, such as the right to redeem the vehicle (i.e., pay off the full loan balance) or reinstate the loan (i.e., catch up on missed payments and resume making regular payments). The notice will also provide information about the sale of the vehicle, including the date, time, and location of the sale.

Vehicle Recovery

Repossession Agents: Westlake Financial typically uses third-party repossession agents to recover vehicles. These agents are licensed and bonded professionals who are trained to repossess vehicles in a safe and legal manner. They are authorized to enter your property to repossess the vehicle, but they are not allowed to breach the peace or use force. If a repossession agent engages in illegal or abusive behavior, you have the right to file a complaint with the appropriate authorities.
Personal Property: When your vehicle is repossessed, you have the right to recover any personal property that was inside the vehicle. Westlake Financial is required to allow you to retrieve your personal belongings, but they are not responsible for any items that were lost or damaged during the repossession process. It's a good idea to remove all personal items from your vehicle as soon as you realize that repossession is imminent.
Redemption and Reinstatement: As mentioned earlier, you may have the right to redeem the vehicle (i.e., pay off the full loan balance) or reinstate the loan (i.e., catch up on missed payments and resume making regular payments) after it has been repossessed. The specific requirements for redemption and reinstatement vary by state law and the terms of your loan agreement. If you are interested in redeeming or reinstating your loan, contact Westlake Financial as soon as possible to discuss your options.

Fees Associated with Towing

Towing fees can add a significant financial burden when dealing with Westlake Financial. These fees can vary depending on several factors, including the towing company used, the distance the vehicle is towed, and any additional services required. Here's a breakdown of potential towing-related fees:

Towing Costs

Initial Towing Fee: This is the base fee charged by the towing company for hooking up the vehicle and transporting it to a storage facility. The initial towing fee can vary depending on the location and the towing company's rates.
Mileage Fee: Some towing companies charge a mileage fee in addition to the initial towing fee. This fee is based on the distance the vehicle is towed and can add up quickly, especially if the vehicle needs to be transported over a long distance.
Additional Services: In some cases, additional services may be required during the towing process, such as winching the vehicle out of a ditch or using specialized equipment to handle a disabled vehicle. These services can incur additional fees.

Storage Fees

Daily Storage Fee: Once the vehicle is towed to a storage facility, you will likely be charged a daily storage fee. This fee covers the cost of storing the vehicle at the facility and can vary depending on the location and the storage facility's rates.
Administrative Fees: Some storage facilities may also charge administrative fees for processing paperwork and handling the vehicle. These fees can add to the overall cost of retrieving your vehicle.

Repossession Fees

Repossession Fee: Westlake Financial may charge a repossession fee to cover the costs associated with repossessing the vehicle. This fee can include the cost of hiring the repossession agent, as well as other administrative expenses.
Loan Balance: In addition to the repossession fee, you will still be responsible for paying off the remaining balance on your loan, including any accrued interest and late fees. If the sale of the vehicle does not cover the full loan balance, you may be required to pay the deficiency.

How to Avoid Towing

Prevention is always better than cure. Here are some proactive steps you can take to avoid towing and repossession issues with Westlake Financial:

Communication is Key

Stay in Touch: If you're facing financial difficulties and anticipate being unable to make a payment on time, contact Westlake Financial immediately. Explain your situation and explore possible solutions, such as a temporary payment deferral or a modified payment plan. Open communication can often prevent misunderstandings and lead to a more favorable outcome.
Document Everything: Keep a record of all communications with Westlake Financial, including dates, times, and the names of the representatives you spoke with. This documentation can be valuable if any disputes arise later on.

Financial Planning

Budgeting: Create a realistic budget that includes your car payment and other essential expenses. Identify areas where you can cut back on spending to ensure you have enough money to make your payments on time. There are many free budgeting apps and tools available online to help you get started.
Emergency Fund: Build an emergency fund to cover unexpected expenses, such as car repairs or medical bills. Having a financial cushion can help you avoid falling behind on your car payments if you encounter a financial setback.

Loan Management

Payment Options: Take advantage of Westlake Financial's various payment options, such as online payments, automatic payments, or payments by phone. Choose the payment method that is most convenient for you and that ensures your payments are made on time.
Review Loan Terms: Periodically review your loan agreement to ensure you understand your rights and responsibilities. Pay close attention to clauses related to default, repossession, and any associated fees. If you have any questions or concerns, contact Westlake Financial for clarification.

What to Do If Your Car is Towed

Even with the best planning, sometimes things don't go as expected. If your car is towed by Westlake Financial, here's what you should do:

Immediate Actions

Contact Westlake Financial: Contact Westlake Financial immediately to confirm that they authorized the towing and to inquire about the reason for the repossession. Ask for the location of the storage facility where your vehicle is being held and the steps required to retrieve it.
Review Loan Agreement: Review your loan agreement to understand your rights and options, such as the right to redeem the vehicle or reinstate the loan. Pay close attention to any deadlines or requirements that you must meet.

Retrieving Your Vehicle

Gather Documentation: Gather all necessary documentation, such as your driver's license, proof of insurance, and loan agreement. You may also need to provide proof of income or other financial information if you are seeking to redeem the vehicle or reinstate the loan.
Payment Arrangements: Make arrangements to pay any outstanding fees, such as towing fees, storage fees, and repossession fees. You may also need to catch up on missed payments or pay off the full loan balance, depending on your circumstances.
Personal Property: Retrieve any personal property from your vehicle. Westlake Financial is required to allow you to retrieve your personal belongings, but they are not responsible for any items that were lost or damaged during the repossession process.

Legal Options

Legal Consultation: If you believe that Westlake Financial has violated your rights or engaged in illegal or abusive behavior, consult with an attorney who specializes in consumer protection law. An attorney can review your case and advise you on your legal options.
File a Complaint: You can also file a complaint with the Consumer Financial Protection Bureau (CFPB) or your state's attorney general's office. These agencies can investigate your complaint and take action against Westlake Financial if they find evidence of wrongdoing.

Conclusion

Dealing with auto financing and potential towing situations can be stressful, but understanding Westlake Financial's policies and taking proactive steps can help you navigate these challenges successfully. By staying informed, communicating openly, and managing your finances responsibly, you can avoid towing issues and maintain a positive relationship with your lender. Remember, knowledge is power, and being prepared is the best defense against unexpected financial setbacks.