HOUSTON, March 19, 2024 /PRNewswire/ — Auto Financial Group (AFG), one of the nation’s leading sources of residual based financing and vehicle remarketing for financial institutions, announced results for Q3-Q4 2023 today.
In the second half of 2023, AFG signed five new credit unions to its Walk-Away Balloon Lending Program, including Fibre Federal Credit Union, Finger Lakes Health Care Federal Credit Union and State Civil Service Employees Federal Credit Union. The five credit unions represent combined assets of over $2.3 billion and a reach increase of almost 3.5 million consumers across four states.
“In today’s economy, it is imperative to our credit union to assist our members in having reliable transportation, without having to compromise their monthly budgets. This is why we are incredibly excited to partner with AFG, to continue to better meet the needs of our membership in a brand-new way,” says Jacob Widrick, Financial Service Representative at State Civil Service Employees Federal Credit Union.
“A recent headline in the media read ‘Americans Can No Longer Afford Their Cars‘. In an environment where interest rates are high and vehicle prices keep increasing, affordability becomes the primary obstacle for consumers looking to purchase a car. AFG’s walk-away balloon lending program will help these financial institutions offer a more affordable, low payment vehicle financing option to their members,” said Richard Epley, CEO of AFG.
Learn more about AFG’s programs at https://www.autofinancialgroup.com/products/
About Auto Financial Group
Auto Financial Group (AFG), a Houston-based company, provides an online, residual based, walk-away vehicle financing product called AFG Balloon Lending, as well as vehicle leasing and vehicle remarketing to financial institutions across the United States.
AFG’s residual based financing solutions provide the advantages of lower payments, flexible terms, in the case of the balloon loan, actual ownership of the vehicle and several end-of-term options, including the option to surrender the vehicle and walk away in lieu of paying the final loan payment. The financial institution receives higher loan yields, a competitive residual based financing alternative, and AFG manages the entire end-of-term process.
The AFG Remarketing program is a proven solution for financial institutions that offers the greatest financial return to their clients by matching assets to the selling network with the greatest number of buyers.
For more information about AFG call toll free at 877-354-4234, or visit www.autofinancialgroup.com
SOURCE Auto Financial Group
