HOUSTON, Aug. 9, 2018 /CNW/ -- Auto Financial Group announced today that it completed the acquisition of Credit Union Leasing Administration of Canada Ltd. on August 1. CUL Administration of Canada provides a turnkey program to Canadian credit unions to enable them to participate in consumer and commercial automobile leasing. Peter Birks, President of CUL Administration of Canada, will continue to run operations as the company integrates with Auto Financial Group.
AFG's growth into new markets demonstrates its commitment to financial institutions across the United States and Canada to meet the rising consumer demand for residual based financing.
"We are excited to welcome CUL Administration of Canada to the AFG team and look forward to their contributions," said Richard Epley, Chief Executive Officer of Auto Financial Group. "The acquisition is perfectly aligned with Auto Financial Group's mission to provide innovative, revenue producing programs to financial institutions and will position the company for continued growth and success in the future."
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
SOURCE Auto Financial Group
For further information: Monica Mendoza, 713-812-3333, http://www.autofinancialgroup.com