AFG in the media

The high cost of vehicles combined with rising interest rates is creating the perfect storm and making it very hard for many consumers to afford a reliable vehicle. Borrowers are experiencing not only sticker shock but also payment shock. Read full article on creditunions.com

According to Experian’s State of the Automotive Finance Market Report, 1 in 5 borrowers financing a new car use some form of residual-based financing. Your borrowers look to you for the best rates on conventional loans but are forced to captives and your competitors for alternative low-payment financing options that incorporate residual values. Read full article on creditunions.com

Many borrowers are finding it difficult to find a vehicle they can afford. According to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index, which tracks the number of weeks of income the average earner needs to buy the average new vehicle, it set a record at the end of 2021: 43.2 weeks. Read full article on creditunions.com

Since the start of the pandemic, deposits at credit unions have risen at unprecedented levels. According to data from NCUA, credit union account balances have risen nearly 60% in the past five years. With loan demand lagging, credit unions have had to pivot to lower yielding investments, which may ultimately strain capitalization requirements. Read full article on creditunions.com

AFG's Tim Kelly featured in NAFCU podcast discussing the auto market and how to combat negative equity trends According to Experian Automotive, in Q1 2018 consumers chose residual-based financing for nearly 30% of all new vehicles financed. In 2019, as car prices and interest rates continue to rise, consumers will continue to seek flexible financing programs to make their monthly payments affordable. The used car opportunity is huge. Knowing your options and understanding how to keep your business safe, while…

AFG's Tim Kelly explores a few approaches to help borrowers who are upside-down on their loans in a CU Times Article It’s an all too common situation. A couple named Lisa and Roger own a vehicle that increasingly presents expensive mechanical issues, feels dated in terms of technology, and is too small and unreliable for a growing family. They’re eager to get into a newer car but the value of the current car is $10,000 and they owe $15,000. They…

AFG's Tim Kelly explores options available to lenders in a shifting auto lending landscape in a CU Journal Article Auto lenders face several interesting trends in 2018. On one hand, vehicle sales are expected to be robust with Cox Automotive projecting 39.5 million used vehicles to be sold up from 39.3 million and 16.7 million new vehicles down slightly from 17.1 million. U.S. consumer confidence is at a 17-year high and it is anticipated that the recent tax cuts will serve to…

Richard Epley, AFG's CEO, has been featured in SubPrime Auto Finance News Annual CEO Issue. Read Digital Edition Download PDF

CUES Magazine interviews Richard Epley for its feature “Turbo Charge Your Loans” Richard Epley was one of the auto finance experts interviewed for this August feature article in CUES Magazine. You can read the full article here: “Turbo Charge Your Loans“.

ABECU’s success story with AFG balloon lending program ABECU’s has been very successful with the AFG balloon lending program. Their story is featured this month on creditunions.com. Click through to read the full article.