The first decade was challenging and punctuated by economic turbulence.
2001
After the 9/11 attacks, vehicle prices pretty much plummeted for thirty to sixty days. That was when zero percent financing first came on the scene.
1999
AFG was founded in 1999. The concept came about through a partnership that AFG originally had with a company called Prolease. Many credit unions approached AFG about offering a lease type product to their credit union members. One of the things that AFG noticed was that at the time no one was leveraging the Internet as a means to facilitate these types of transactions.
2006-2007
The price of gas started climbing to just over 4 dollar per gallon for gas. This really affected the value of trucks and SUVs, which have traditionally been very popular on the AFG program.
2008
The financial crisis gave way to the great recession. Many captive financing companies collapsed at this time.
The second decade brought double-digit growth and product innovation.
2013
AFG introduces a new software feature, the Dealer Inventory Download (DID)
2014
AFG holds its first Annual User Conference in Austin, TX
2016
AFG launches a lease program
2018
AFG acquires CUL Administration of Canada, rebranded as AFG Canada
2020
AFG marks its 20th anniversary at the annual AFG User Conference in New Orleans
AFG’s Success
AFG’s CEO, Richard Epley, attributes the company’s success to three factors. Press play to find out more.