westlake financial services Your "PAY OF DATE MEANS NOTHING", Internet

I have a vehicle financed with Westlake. My payments are 375.44 monthly. I get a statement each month that tells me what myu payment is and when it is due. On the occassions when i have made a payment larger than my required and agreed upon monthly, my next statement reflects such and instructs me that my payment is the same amount i previously overpaid, less? (EX. i pay 425.44 in January, February statement says i owe $325.44 instead of $375.44)

The don't appear to remove the over payments from the principal balance, as they should. The reduce if from the next payment due! This is also evidenced by not havin any extra amount reduced on the payoff amount.

CAn anyone, Jim, explain to me how this works? Does anyone remember Santander, formerly Drive Financial and the same practices that eventually ewnded up with a class action lawsuit against the lender?

Thank you for sharing your feedback with Westlake Financial Services. We take all of our customers concerns seriously. We apologize for the negative experience you had with our company. We do not support this type of customer service, and we are working very hard to make sure that everyone is helped effectively and within a timely manner. If you have any questions about your account, please contact our customer service team at 888-739-9192.

What I know of deferments is that you pay the interest for the month you request the deferment. If you requested 3 deferments it will add those 3 payments + interest to the end of your contract, not 6 months worth of payments.
The end of contract will be extended by 3 months.............6 months to me sounds like a rip-off.

I have a friend who did business with this company through their "Titanium" program which is their prime accounts department ...........he'll never do business with them again and I'll heed his advice.

There's Jim again, standing up for a company AGAIN that he claims he doesn't work for....

The interest clock continues to run on the money not paid back by those defered payments. The total interest on the loan is computed on the basis of making every payment on time. When you defer payments they do not get the use of their money until later than computed. Therefore you will pay interest for using their money. Not making payments when due throws off all the interest computation. No rip off here.