Auto Financial Group Announces Q4 2024 Results

HOUSTON, Feb. 11, 2025 /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 Q4 2024 today.

In the last quarter of 2024, AFG signed four new credit unions to its Walk-Away Balloon Lending Program: Bay Area Credit Union, FD Community Federal Credit Union, MyUSA Credit Union, and University of Toledo Federal Credit Union. The four credit unions represent combined assets of over $635 million and a reach increase of more than 1.8 million consumers across two states.

"At University of Toledo FCU, we are always seeking ways to help our members. The recent increase in inflation coupled with the higher demand for vehicles made the AFG program something that we wanted to make available for our members," said Greg Cook, CEO of University of Toledo Federal Credit Union.

"According to Edmunds, 1 in 4 consumers with negative equity owed more than $10,000 on their auto loans in Q4 2024. Rising vehicle prices, high rates and negative equity will be major hurdles for borrowers looking to finance a vehicle this year. AFG's walk-away balloon lending program will help these financial institutions offer a more affordable, low payment vehicle financing option to their members while reducing their risk of negative equity," said Richard Epley, CEO of AFG.

Learn more about AFG's programs at https://autofinancialgroup.com/products/residual-based-financing/ 

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 North America.

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