You can go to any dealership within our covered states (see our auto loan state coverage) and apply for auto loan from us. All you need to do is filling in the online application (apply now) and we will get in touch with you regarding the follow-up steps.
Please note that Westbon provides financing service only and does not sell cars directly. Upon approval of your loan application, you are responsible to find the dealer from which you will purchase the car and Westbon will wire transfer the loan proceeds to your designated dealer.
Sure, you can. Westbon finances any used car with clean title, model year of 2012 or later and mileage of 70k or less.
You will make the down payment at the dealership. Cash, cashier’s check or wire-transfer are generally acceptable at dealerships. Please contact corresponding dealerships for details.
Upon approval, you need to sign a purchase agreement with the dealer and upload it through your Westbon account. Once you sign your loan agreement and set up your loan repayment method on Westbon, the loan proceeds will be wired to your designated dealer as soon as the next business day. This process usually takes 2-3 business days.
Please bring the original copy of your passport, I-20, US driver’s license and proof of auto insurance if you have purchased in advance. You can contact corresponding dealership for details of purchasing auto insurance.
Yes, we require all of our customers to purchase auto insurance with collision and comprehensive packages. You are more than welcome to contact our customer service representatives or dealers for suggestions.
Westbon currently can only finance cars from licensed auto dealerships.
Westbon currently can only finance cars, including sedan, coupe, convertible, SUV, truck, wagon, hatchback, minivan etc.
Your car on Westbon loan will be the collateral before your loan is paid off.
1. If you think the supplementary documents will strengthen your application profile, you are strongly encouraged to submit them.
2. If our underwriting team finds your application materials insufficient to make a credit decision, we will contact you through email to request for supplementary documents.
Please refer to How It Works for detailed application procedures.
We offer auto loan in the amount of $5,000 to $60,000. Minimum loan amount of $10,001 in Arizona; minimum loan amount of $6,001 in Massachusetts; maximum loan amount of $15,000 in Connecticut.
We will inform you of the decision within two business days if all required documents have been submitted. However, if we need supplementary documents from you, it may take longer for us to process your application.
We will NOT contact your school or family members directly on behalf of Westbon when reviewing your application. We will only contact your school or family members to locate your whereabouts if you cannot be reached in case of repayment overdue or default.
Our underwriting team will evaluate your overall qualifications, including your personal information, academic performance, credit report if available, financial situation, etc. We recommend that you provide required and supplementary documents as complete as possible to increase your chances of approval and get better interest rate.
You can re-apply at least 3-months after your application was declined. However, please do not submit same materials as used for the declined application. We need to see significant improvement in your updated application materials to approve your new application.
We do not require you to have a credit score to apply for our auto loan, but having a solid credit score will improve your chance of approval.
No. Before you pay off the remaining balance for one car, you will not be eligible for financing another car.
We offer auto loan at any dealership in the following states: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Massachusetts, Michigan, Nebraska, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Utah, Vermont, Virginia, Washington, Wisconsin, and Wyoming.
Once you sign your loan agreement and set up your loan repayment method on Westbon account, the loan proceeds will be deposited into your bank account as soon as the same business day.
We offer personal loan in the amount of $1,000 to $3,000. Minimum of $2,001 in Alabama.
We will not contact your school or family members directly on behalf of Westbon when reviewing your application. We will only contact your school or family members to locate your whereabouts if you cannot be reached in case of repayment overdue or default.
Our underwriting team will evaluate your overall qualifications, including your personal information, academic performance, credit report if available and financial situation, etc. We recommend that you provide required and supplementary documents as complete as possible to increase your chances of approval.
Possible reasons include but not limit to:
We offer personal loan in the following states: Alabama, Arizona, California, Illinois, Indiana, Iowa, Michigan, New Jersey, New York, Ohio, Pennsylvania, Utah, Washington, and Wisconsin.
You can link your university email to your Westbon account at Account Setting in Customer’s Portal, where you can change your email address. Please notice that the new email must be an university email address ending with .edu.
Click Forget Your Password? in the login page and enter your email address. An email containing password resetting information will be sent to your email. Follow the instructions in the email and reset your password.
Enter the referral code in the “Referral Code” box when creating your Westbon account.
Please check the box “Cannot find my school” and type in your school name
You can choose to repay by either automatic payment or check. For automatic payment, the monthly payment will be automatically deducted from the bank account you connected in the Westbon account per the payment schedule shown in your Loan Agreement. You will get an email notification for repayment 5 days before the due date every month and get a payment receipt once it is successfully processed. For check payment, you will need to mail the check with the monthly due amount payable to Westbon Inc. at 320 W Ohio St, Suite 300, Rm-14, Chicago, IL 60654. Please make sure you mail the check out several days in advance of your due date to avoid unnecessary late fee.
Failing to make your monthly payment on time will be considered as a late payment or even a default case if the payment is overdue for over 15 days. A penalty fee of the lesser of $15 or 5% of the unpaid installment amount will be charged and your credit record may be damaged due to late payment. Please be aware that a delinquent or default case will have significant negative impact on your credit history in the United States and potentially your home country, since Westbon will report such data to major credit bureaus in the United States and potentially your home country. With a delinquency or default record, you will find it extremely hard to get further credit product in both the US and your home country and will potentially affect you negatively in employment, renting apartment, etc. In addition, if you default on your auto loan, repossession will be triggered and you will be subject to additional collection fees in addition to the cumulative late payment fees and interests.
Yes, you can pay off your remaining balance anytime without any penalty.
Yes, you can.
We do not sell auto insurance. However, our customer service representatives will give you suggestions based on your needs. Our partnered dealers will also recommend some of the mostly trusted auto insurance companies.
You can still apply by providing any up to date bank statement from a U.S.-based bank. To increase your chances of approval, you are strongly recommended to submit any supplementary materials available as listed in the Supplementary Documents Section.
You can still apply by providing the scanned copy of your SAT score report or TOEFL/IELTS score report.