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 2018 today, continuing a strong trend in new customer signings of the past year.
In this quarter, AFG has signed five new credit unions to the AFG Balloon Lending Program:
Texas Bay Credit Union, C&O United Credit Union, Peninsula Federal Credit Union, University Credit Union and Peace Officers Professional Associations (POPA) FCU. These five credit unions represent a reach increase of nearly 2.7 million consumers and combined assets of over 1.5 billion across 4 states.
“In an environment of rising interest rates and high vehicle prices, with average monthly payments now exceeding $525 per month according to Edmunds, credit unions are eager to sign up for the AFG Balloon Program to gain a competitive advantage,” said Richard Epley, CEO of AFG. “The program allows credit unions to offer a lower payment auto financing option to borrowers, giving their members the opportunity to drive the vehicles they really want.” Learn more about AFG’s Balloon Lending program at https://www.autofinancialgroup.com/products/balloon-lending-program/
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