Small business owners trust credit unions that deliver big solutions.
Auto Financial Group
MITIGATING YOUR RISK BY GUARANTEEING EVERY VEHICLE'S RESIDUAL VALUE AND HANDLING DISPOSITION AT THE END OF THE TERM.
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:
- 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
AFG Provides Your Members with:
- 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)
Indirect Auto Lending
ALL-INLCUSIVE, INDIRECT AUTO LENDING PROGRAM TO INCREASE LOAN PENETRATION
Improve your credit union's brand awareness while gaining a competitive edge in the auto lending market.
Auto lending makes up a substantial part of a credit union's loan portfolio. To increase your credit union’s brand visibility and become more competitive in the auto lending market, more credit unions are considering indirect lending as one more effective tool to reach consumers. With an uptick of auto buyers arranging financing at the car dealership, more credit unions are forming indirect lending programs at the point of purchase to acquire a greater share of auto loans.
Indirect lending at the point of purchase helps cultivate the member relationship.
Once a new member joins your credit union through indirect auto lending, new opportunities arise to onboard the new member to your credit union's offerings while simultaneously fostering a positive relationship.
What's special about Origence?
We’ve reimagined the entire lending experience to allow consumers and lenders to move easily through the loan process. Origence’s origination solutions can power your lending from application to closing, and every step in-between. And with our unrivaled modular architecture, you can have Origence drive your entire origination process, or seamlessly use the module(s) that work best for your team.
Indirect lending origination and dealer services - complete support of your credit union’s indirect lending strategy, leveraging your brand and including advisory services to grow and maintain dealer relationships
AutoSmart web-based shopping portal - the research tools and resources members need to access information on thousands of vehicles
Re-marketing solutions - asset recovery and disposition to protect your credit union and optimize vehicle resale opportunities
CU Trak allows you to pass GPS tracking benefits on to your customer, providing peace of mind by giving them access to our user-friendly mobile apps to monitor their vehicle, with an easy to use system.
If you would like more information, contact your CU Solutions Group League Representative at 800-262-6285.