Houston, Texas – 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 2020 today.
In the third quarter of 2020 AFG signed four new credit unions to its residual based financing programs: Hartford Firefighters Federal Credit Union, Heritage USA Federal Credit Union, UHS Employees Federal Credit Union and Union Square Federal Credit Union signed up for the AFG Balloon Lending Program. The four credit unions represent combined assets of over $500 million and a reach increase of nearly 29 million consumers across three states.
“At Hartford Firefighters Federal Credit Union, we want to provide as many options for our members to get the loan they are looking for,” said Bryan Woodward, President and CEO. “With the price of new cars nowadays, our members have often wanted more car for their money and will typically travel down the path of a used vehicle for better affordability. With AFG’s model, we can offer either more car or cheaper payments, while still staying true to our DTI requirements. Putting members in a better car than they thought they could afford is another benefit of being a credit union member and we are excited to offer this flexibility on our menu of loan services.”
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