Auto Financial Group Announces Q1 2020 Results
HOUSTON, May 13, 2020 /PRNewswire/ -- Auto Financial Group (AFG), one of the nation's leading sources of residual based financing and vehicle remarketing for financial institutions, announced results for Q1 2020 today.
In the first quarter of 2020, in spite of the challenges due to the coronavirus lockdown, AFG signed three new credit unions to the AFG Balloon Lending Program: Family Advantage Federal Credit Union, Montana Health FCU and Pasadena Service Federal Credit Union. The three credit unions represent combined assets of over $223 million and a reach increase of over 1.7 million consumers across three states.
"At Montana Health, we were looking for opportunities to build out a product suite that could help our members during the COVID-19 response," says Dennis R. Wizeman, President and CEO of Montana Health FCU. "We knew that cash flows were going to be tight for our members and that uncertainty would be high, so offering an option that could help members mitigate cash flow demands even while making an essential purchase would be a great fit in our suite of relief products."
AFG also signed PA Central FCU, to its vehicle remarketing program in the first quarter.
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
View original content:http://www.prnewswire.com/news-releases/auto-financial-group-announces-q1-2020-results-301056744.html
SOURCE Auto Financial Group
