DETROIT, May 8, 2018 -- Ally Financial today announced an agreement with Westlake Financial Services, the largest privately held finance company in the country, to list vehicles for sale on SmartAuction, Ally's wholesale auto auction platform.
"We are excited to team with Westlake, a growing national leader in the automotive industry, to be part of its remarketing strategy," said Steve Kapusta, vice president, specialized asset management for Ally. "We look forward to putting the value of SmartAuction and our digital remarketing support to work for Westlake by providing greater reach and convenience for their vehicles in the wholesale marketplace."
Westlake will list vehicles from a variety of brands on SmartAuction. The cars and trucks became available to dealers registered on SmartAuction beginning May 1.
"This relationship with Ally Financial will provide a new digital access point to buyers as we see the remarketing industry become more visible online via auto auctions," stated Ian Anderson, Group President of Westlake Holdings. "Our commitment is to continue to enhance our operational efficiency while connecting with our customers' vehicle buying experience."
SmartAuction is an industry-leading online dealer auction that offers access to an inventory of wholesale vehicles to eligible dealers of all brands with over 25,000 vehicles available daily. All purchases through SmartAuction are backed by a comprehensive arbitration policy.
About Ally Financial Inc.
Ally Financial Inc. (NYSE: ALLY) is a leading digital financial services company with assets of $170.0 billion as of March 31, 2018. As a client-centric company with passionate customer service and innovative financial solutions, Ally is relentlessly focused on "Doing it Right" and being a trusted financial partner for its consumer, commercial, and corporate customers. Ally's award-winning online bank (Ally Bank, Member FDIC and Equal Housing Lender) offers mortgage-lending services and a variety of deposit and other banking products, including CDs, online savings, money market and checking accounts, and IRA products. Ally also promotes the Ally CashBack Credit Card. Additionally, Ally offers securities brokerage and investment advisory services through Ally Invest. Ally remains one of the largest full-service auto finance operations in the country with a complementary auto-focused insurance business, which together serve more than 18,000 dealer customers and millions of auto consumers. Ally's robust corporate finance business offers capital for equity sponsors and middle-market companies.
For more information and disclosures about Ally, visit https://www.ally.com/#disclosures.
About Westlake Technology Holdings
Westlake Financial Holdings is an auto and finance technology company headquartered in Los Angeles, CA with approximately $6.5 billion in assets under management. Westlake Financial Services originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and powersports dealers. Westlake also offers loan portfolio purchasing, credit facilities and portfolio servicing through their ALPS division (Advanced Lending & Portfolio Services); www.WestlakeALPS.com. Floor plan lines of credit are provided through Westlake Flooring Services; www.WestlakeFlooringServices.com, shared cash flow auto lending through Westlake's wholly owned subsidiary, Western Funding Inc, a Nevada Based auto lender, and indirect automotive leasing for credit unions through Credit Union Leasing of America (CULA), is a subsidiary of Westlake, dealers leads and direct-to-consumer auto loans through Westlake Direct, and direct to consumer title loans are through Westlake's wholly owned subsidiary Loan Center; www.loancenter.com.
Contact:
Brenda Rios
Ally
Phone: 313-656-6809
E-mail: Brenda.rios@ally.com
