Finopotamus Podcast about Residual Based Financing
AFG’s Tim Kelly was recently interviewed for the Finopotamus podcast about residual based financing and the benefits for credit unions. Listen to the Podcast
Navigating High Rates And Shrinking Liquidity
The high cost of vehicles combined with rising interest rates is creating the perfect storm and making it very hard for many consumers to afford a reliable vehicle. Borrowers are experiencing not only sticker shock but also payment shock. Read full article on credit unions.com
3 Reasons Now Is The Perfect Time To Offer A Lease Program
According to Experian’s State of the Automotive Finance Market Report, 1 in 5 borrowers financing a new car use some form of residual-based financing. Your borrowers look to you for the best rates on conventional loans but are forced to captives and your competitors for alternative low-payment financing options that incorporate residual values. Read full article…
Helping credit union members navigate the vehicle-affordability crisis
Many borrowers are finding it difficult to find a vehicle they can afford. According to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index, which tracks the number of weeks of income the average earner needs to buy the average new vehicle, it set a record at the end of 2021: 43.2 weeks. Read full article on creditunions.com
Is Loan Growth Keeping Pace With Deposit Growth At Your Credit Union?
Since the start of the pandemic, deposits at credit unions have risen at unprecedented levels. According to data from NCUA, credit union account balances have risen nearly 60% in the past five years. With loan demand lagging, credit unions have had to pivot to lower yielding investments, which may ultimately strain capitalization requirements. Read full article…
AFG’s Tim Kelly featured in NAFCU podcast
AFG’s Tim Kelly featured in NAFCU podcast discussing the auto market and how to combat negative equity trends According to Experian Automotive, in Q1 2018 consumers chose residual-based financing for nearly 30% of all new vehicles financed. In 2019, as car prices and interest rates continue to rise, consumers will continue to seek flexible financing…
Helping Members Get Off the ‘Negative Equity Treadmill’
AFG’s Tim Kelly explores a few approaches to help borrowers who are upside-down on their loans in a CU Times Article It’s an all too common situation. A couple named Lisa and Roger own a vehicle that increasingly presents expensive mechanical issues, feels dated in terms of technology, and is too small and unreliable for…
Options available to lenders to address the impact of recent fed rate hikes
AFG’s Tim Kelly explores options available to lenders in a shifting auto lending landscape in a CU Journal Article Auto lenders face several interesting trends in 2018. On one hand, vehicle sales are expected to be robust with Cox Automotive projecting 39.5 million used vehicles to be sold up from 39.3 million and 16.7 million new vehicles…
Richard Epley featured in CEO Issue
Richard Epley, AFG’s CEO, has been featured in SubPrime Auto Finance News Annual CEO Issue. Digital EditionDownload PDF
Richard Epley quoted in CUES Magazine Article
CUES Magazine interviews Richard Epley for its feature “Turbo Charge Your Loans” Richard Epley was one of the auto finance experts interviewed for this August feature article in CUES Magazine. Read article