$735
Average new loan monthly payment in Q2 2024
17.8%
The share of consumers taking on loans with new-vehicle monthly payments of $1,000 or more was 17.8% in Q2 2024
69 months
The average new-vehicle loan term in Q2 2024 was 69 months, the highest point since the end of 2022
Source: Edmunds
The opportunity for lenders: 25-30% of borrowers already choose residual based financing.
24%
Percentage of all new vehicles that are leased
30%
Leasing sees growth in Super Prime with Prime+ consumers choosing to lease over 30% of the time
↓8%
Percentage decrease in credit union market share for used auto loans from 2023 to 2024
Source: Experian
AFG’s residual based financing programs are 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.
25-40%
AFG’S RBF programs offer payments on average 30-45% lower compared to conventional financing
↑ ROI
AFG’s programs provide a higher yield compared to conventional financing
100%
AFG guarantees 100% of the residual value