Ready for Some Good Auto Financing News?

Houston, Texas – Auto Financial Group (AFG), The recent woes of the auto industry hardly need repeating – from the overall credit crunch to the $4-plus fuel prices of last summer, the unsold inventories at dealerships, to the ongoing Capitol Hill drama involving Chrysler, Ford and GM.

One of the many fallout effects to consumers is the precipitous drop in auto financing options. Leasing programs have disappeared – GMAC and Chrysler’s financial arm both ended their leasing programs in 2008, and GMAC’s early 2009 deal with the federal government specifically lifts any requirement for GMAC to provide lease financing.

Add to this troubled outlook the fact that trade-in values have dropped, and it’s no wonder that even some alternative financing sources like credit unions have declared auto financing to be DOA.

So… Ready for some good news?

Auto Financial Group, Inc. is a Houston-based company that provides Driving Sense™, an online residual based auto financing product for credit unions and other financial institutions. With Driving Sense™, credit unions can “build” a vehicle for their members, compare payment terms with conventional loans, and offer their members lower payments (often as much as 40 percent lower), flexible two- to six- year terms, actual ownership of the vehicle and several end-of-term options.

Auto Financial Group removes the financial risk to the credit union by guaranteeing the predetermined residual value of the vehicle through third party insurance, as well as handling the vehicle’s disposition at the end of the term. Auto Financial Group is paid one low administration fee for each Driving Sense loan, while the credit union earns all the interest. Credit unions have long been a place where credit union members could turn for help – particularly in difficult economic times. Adrian Dominguez, CUAC President/CEO thinks Driving Sense furthers that relationship.

“An AFG balloon loan is a very sensible solution for members who are wanting a new car and a lower payment,” says Dominguez.

“Credit unions are protected,” he continues, “and they can track that member’s history, knowing that he will probably be back for his next auto loan, and possibly for additional credit union services as well."

In a troubling time in the auto industry, AFG’s Driving Sense offers a win/win bright spot, with credit union members receiving lower payments, actual ownership of vehicles and end-of-term options, and credit unions earning all the interest on the loan.

“We have never seen a better time for our Driving Sense product since the inception of our business in 1999,” says Auto Financial Group President Richard Epley. “It is a product that provides the member with a lower payment and the credit union with a higher yielding loan, a combination of features that are simply unmatched in the current marketplace.”

For more information, visit www.autofinancialgroup.com.

About Auto Financial Group, Inc.
Auto Financial Group, Inc. is a Houston-based company that provides Driving Sense™, an online residual based auto financing product for credit unions and other financial institutions. Auto Financial Group removes the financial risk to the credit union by guaranteeing the predetermined residual value of the vehicle through third party insurance, as well as handling the vehicle's disposition. For more information about getting Driving Sense or connecting with a credit union offering Driving Sense, call 713-812-3333 or toll free at 877-354-4AFG, or visit www.autofinancialgroup.com.