Auto Financial Group, a national source of residual based financing and vehicle remarketing for financial institutions, has announced results for Q3-Q4 2023.

In the second half of 2023, AFG signed five new credit unions to its Walk-Away Balloon Lending Program, including Fibre Federal Credit Union, Finger Lakes Health Care Federal Credit Union and State Civil Service Employees Federal Credit Union. The five credit unions represent combined assets of over $2.3 billion and a reach increase of almost 3.5 million consumers across four states.

“A recent headline in the media read ‘Americans Can No Longer Afford Their Cars,’” said Richard Epley, CEO of AFG. “In an environment where interest rates are high and vehicle prices keep increasing, affordability becomes the primary obstacle for consumers looking to purchase a car. AFG’s walk-away balloon lending program will help these financial institutions offer a more affordable, low payment vehicle financing option to their members.