HOUSTON, Feb. 13, 2019 /CNW/ -- Auto Financial Group (AFG), one of the nation's leading sources of residual based financing and vehicle remarketing for financial institutions, announced results for Q4 2018 today, continuing a strong trend in new customer signings of 2018.
In this quarter, AFG signed seven new credit unions. Six signed up for the AFG Balloon Lending Program: Shell Federal Credit Union, Honolulu Federal Credit Union, Pheple Federal Credit Union, Marion Community Credit Union and SECNY Federal Credit Union. Forest Area Federal Credit Union will be implementing the AFG Leasing Program, which continues to build momentum since it launched in 2016. These seven credit unions represent combined assets of over $2.4 billion and a reach increase of nearly 5.9 million consumers across seven states.
"In an environment that continues to push the limits of affordability for vehicles, with average monthly payments now exceeding $525 per month according to Edmunds, credit unions are eager to sign up for the AFG Residual Based Financing Programs to gain a competitive advantage," said Richard Epley, CEO of AFG. "The programs allow credit unions to offer a lower payment vehicle financing option to borrowers."
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
SOURCE Auto Financial Group
For further information: Monica Mendoza, 713-812-3333, http://www.autofinancialgroup.com