Westlake Financial Offers Bitcoin Option for ‘Large’ Down Payments

Jan. 13, 2025 | |

Auto finance source Westlake Financial and its parent company, Hankey Group, announced the launch of a new down payment option targeted to real estate and highline vehicle buyers: Bitcoin.

The Bitcoin Crypto Lending Program creates a new option for Bitcoin holders, who can avoid converting it into cash — potentially triggering capital gains taxes — by using it to make their down payment and secure full financing.

Executives said the cryptocurrency option will help those customers maintain liquidity while they make purchases requiring larger down payments.

“As digital assets become a more permanent fixture in our financial system, we’re excited to offer innovative capital solutions to our borrowers,” Hankey Group CIO Kelechi Ogbunamiri writes in a release.

Read more at Westlake Financial