Trends in Auto Financing
According to Cox Automotive, conventional loan payments have risen by 29% since March of 2020. In their predictions for 2023, Cox says that vehicle affordability will be the greatest challenge facing vehicle buyers. AFG’s “walk-away” balloon lending program can help your financial institution offer an affordable, low payment vehicle financing option to borrowers.
AFG Balloon Lending Program Benefits
The AFG Balloon Lending program is the ultimate win-win situation – your consumers get great value from a financial institution they trust, and you get increased loan volume and higher yields.
Lender Benefits
AFG’s Balloon Lending program positions your financial institution to recapture consumer loans currently being lost to competitive residual based financing products through a solution that carries your brand name. Watch the webinar to learn more about the benefits of the program for your institution.
Dealer Benefits
Dealers can advertise the AFG program’s low payment to build showroom traffic. Lower monthly payments for your customers lead to more gross for your dealership. Watch the video to learn how the program also improves your sales retention.
Borrower Benefits
Borrowers enjoy lower monthly payments – up to 40% less than conventional loans, plus ownership benefits because vehicle is titled in borrower’s name, giving them more options at and prior to loan maturity. There is no down payment required and no prepayment penalties. Read our borrower testimonials to find out first-hand why they choose the program.
Additional Resources
Avoid the Negative Equity Revolving Door
Click play to hear from three different credit unions that have found a solution to this problem.
AFG Balloon Lending Program Brochure
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