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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 2020 today.To get more auto finance news, you can visit shine news official website.
In the second quarter of 2020, in spite of the challenges due to the
coronavirus lockdown, AFG signed five new credit unions to its residual
based financing programs: AmeriCU Credit Union, Bridge Credit Union and
National JACL Credit Union signed up for the AFG Balloon Lending Program
and Associated Credit Union of Texas signed up for the AFG Leasing
Program. The five credit unions represent combined assets of nearly $3
billion and a reach increase of over 8.4 million consumers across five
states.
“At AmeriCU, we’re constantly working to improve our products, services,
and the ways we do business,” said Nick Cray, Vice President of Member
Relations & Marketing for AmeriCU Credit Union. “We’re grateful that
we can now offer our members an auto-buying alternative to leasing or
conventional financing.”
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.
The Wall