Auto Financial Group President Featured in Audio Interview with NAFCU Services Corporation
HOUSTON--Auto Financial Group (AFG), an online provider of residual-based financing products for credit unions, announced today that a new audio interview featuring AFG President Richard Epley is available online. The interview can be heard at www.nafcu.org/autofinancialgroup.
AFG’s balloon note financing program, called Driving Sense™, is an alternative vehicle financing option that combines the best features of a traditional loan with those of a traditional lease. With credit union clients nationwide, AFG makes it easy for credit unions to offer branded balloon and lease options to members. And AFG removes the risk to the credit unions by guaranteeing the predetermined residual value of the vehicles and handling the car's disposition at the end of the term.
During the 10-minute webcast interview, Epley summarizes the income opportunities for credit unions that Driving Sense creates, and describes the options and benefits for credit union members under the program, as well as how Driving Sense saves drivers from getting “upside down” in their vehicle financing.
The interview also touches on the competition between credit unions, dealers and other sources for auto financing. Without Driving Sense, if a credit union has a member who wants a balloon loan, the credit union could conceivably lose that member to another finance source.
Epley estimates in the interview that with Driving Sense, credit unions see a “typical lift in new loan volume of anywhere from three to ten percent.”
About Auto Financial Group, Inc.
Auto Financial Group, Inc. is a Houston-based company that provides Driving Sense™, an online residual based auto financing product for credit unions and other financial institutions. With Driving Sense™, credit unions can “build” a vehicle for their members, compare payment terms with conventional loans, and offer their members lower payments (often as much as 40 percent lower), flexible two- to six-year terms, actual ownership of the vehicle and several end-of-term options.
Auto Financial Group removes the financial risk to the credit union by guaranteeing the predetermined residual value of the vehicle through third party insurance, as well as handling the vehicle’s disposition. Auto Financial Group is paid one low administration fee for each Driving Sense™ loan, while the credit union earns all the interest. For more information, visit www.autofinancialgroup.com.
About NAFCU Services Corporation
NAFCU Services Corporation is a wholly owned subsidiary of the National Association of Federal Credit Unions (NAFCU). Since 1975, NAFCU Services has partnered with the industry’s leading solutions providers to offer value-added products and services at a discount to credit unions. Currently, it offers 27 Preferred Partner programs to the credit union community. For more information about NAFCU Services Corporation, please visit www.nafcu.org/nafcuservices.