HOUSTON, Nov. 20, 2019 /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 Q2-Q3 2019 today.
In the last two quarters, AFG signed seven new credit unions to the AFG Balloon Lending Program including Arkansas Federal Credit Union, Panhandle Educators Federal Credit Union, Northland Area Federal Credit Union, Desert Valleys Federal Credit Union and First New York Federal Credit Union to name a few. The seven credit unions represent combined assets of over $6 billion and a reach increase of nearly 3 million consumers across six states.
"We welcome these financial institutions to the growing AFG family," said Richard Epley, CEO of AFG. "As has become evident in recent and extensive media coverage on vehicle affordability, borrowers are increasingly extending terms to manage their monthly payment even if it's not in their best financial interest. These financial institutions, however, will now be able to provide a low monthly payment alternative with shorter terms to their borrowers through the AFG Balloon Lending Program."
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