Auto Financial Group helps loan yields and loan volumes soar.
Do you find your credit union losing auto loan market share? Do you wish you had a resource or partner that could help you deliver an attractive financing option to members so you can seal more deals? Our partner, Auto Financial Group, gives credit unions a user-friendly, customized web-based software program designed to make it easy to offer low payment financing to your members.
Navigable loan process guided by superior software.
Through a simple 3-step process and customized website, AFG's Residual Value and Quoting Technology guides the initial process by determining each vehicle's residual value (balloon payment) used on all balloon loans.
By offering lower monthly payments and flexible, residual-based loans, AFG helps increase loan yields and indirect/direct loan volumes. The program mitigates risk by guaranteeing the residual value of vehicles and handling disposition at the end of the term.
Credibility built on experience.
For over 15 years, balloon lending has served over 250 credit unions in 44 states and is the number one choice in residual-based automotive financing today for credit unions nationally. The company's 100% guarantee of the residual value on new and used vehicles makes the service a win-win for both your members and your credit union.
Why your members will love it.
Your members want their auto loan questions answered up front—no fuss, no frills—just straight answers. AFG managers are committed to your members and ensure their questions are answered for a smooth and satisfying experience. Best of all, AFG balloon lending makes it possible for members to keep their vehicle financing with a source they trust — your credit union.
AFG Provides Your Credit Union with:
AFG Provides Your Members with:
- Complete end-of-loan term remarketing on all vehicle enrollments which includes end of loan term notifications and vehicle pre-surrender inspections, transportation and resale
- Residual Value and Quoting Technology and AFG residual updating
- Potential to earn your credit union higher ROI on balloon loans due to higher average daily balances
- A software website link that can be added to your credit union website so members can shop for vehicles in the comfort of their own homes
- Initial and on-going training in addition to marketing support such as: website text, sample newsletter articles and member handouts
- The flexibility of a standard installment loan combined with the benefits of leasing with no cash due at signing
- Complete protection on the residual value of the vehicle
- The choice to surrender vehicle at loan maturity in lieu of paying the final balloon installment
- Option to privately sell, trade, or refinance vehicle anytime during their loan term with no penalty
- Three mileage options: 12,000, 15,000, and 18,000 miles per annum
- A low $.10 per mile excess mileage charge if there is excess mileage on the surrendered vehicle at loan maturity
- Option to finance both new and up to 5-year used: cars, light trucks and SUVs
- Access to the Vehicle Disposition Easy, an end-of-loan term vehicle inspection and turn-in process (If member chooses to turn their vehicle in at loan maturity)