LendingTree [NASDAQ: TREE] Teams Up With Westlake On Indirect Auto Lending Platform

LendingTree, Inc. [NASDAQ: TREE] has entered into an agreement with Westlake Financial to offer its customers an indirect auto lending platform. LendingTree Inc has been striving for years to permit its clients with direct finance offers that are completely transactable at the dealership. It has been 10 years since the firm is assisting millions of clients’ shops for an auto loan with direct lenders like CapitalOne and LightStream.

The firm is trying to build relationships with RouteOne and DealerTrack. Westlake Financial is providing thousands of auto finance solutions to fulfill the needs of customers and provide them their desired vehicles. When the 30 years’ experience of Westlake is integrated with LendingTree it will provide all in one solution to the customers.

Shares of LendingTree (NASDAQ: TREE) soared 3.41% at $344.65 at the time of writing on Friday. In the past 52-weeks of trading, its share went up 153.94% and went down -7.51% in the past 52-weeks low and high range. Turning our focus on its profitability, it has Return on Assets, Return on Investment, and Return on Equity of -3.60%, 8.00%, and -9.60%. LendingTree has a total market capitalization of $4.40 billion at the time of writing.

The firm joined its forces to change the experience of its customers by providing them high-quality transactable loan offers. Westlake Technology Holdings commented that this partnership is very beneficial for both firms. Throughout 2020, the firm aimed to offers clients an efficient online car purchasing process.