Auto Financial Group Signs with Credit Union Lending Systems

HOUSTON--(BUSINESS WIRE)--Auto Financial Group (AFG), an online provider of residual-based financing products for credit unions, announced today that it has signed an agreement with Credit Union Lending Systems (CULS). Under the agreement, CULS credit unions will offer AFG’s DrivingSense to their members.

DrivingSense is an auto financing product that offers the lease-like benefits of a balloon loan to credit unions and their members. It allows credit unions to “build” a vehicle for their members, compare payment terms with conventional loans, and offer their members lower payments (often as much as 40% lower), flexible two- to six- year terms, actual ownership of the vehicle and several end-of-term options.

DrivingSense removes the financial risk to the credit union by guaranteeing the predetermined residual value of the vehicle through third party insurance, as well as handling the vehicle’s disposition at the end of the term. AFG is paid one low administration fee for each DrivingSense loan, while the credit union earns all the interest. Credit unions are protected while building an important relationship with their members.

CULS is a service offered exclusively to credit union members. CULS and credit unions have teamed up with hundreds of auto, boat, motorcycle and RV dealers to provide credit union financing right at the dealership.

In these difficult economic times, particularly in the auto industry, credit unions offering AFG’s DrivingSense are still able to offer their members affordable financing for a new car and a lower payment.

“We have simply never seen a better time for DrivingSense,” says AFG President Richard Epley. “It is a product that provides credit union members with lower payments and credit unions with higher yielding loans, a combination of features that are simply unmatched in the current marketplace.”

About Auto Financial Group, Inc.

Auto Financial Group, Inc. (AFG) is a Houston-based company that provides DrivingSense™, an online residual based auto financing product for credit unions and other financial institutions. AFG removes the financial risk to the credit union by guaranteeing the predetermined residual value of the vehicle through third party insurance, as well as handling the vehicle’s disposition. For more information about getting DrivingSense or connecting with a credit union offering DrivingSense, call 713-812-3333 or toll free at 877-354-4AFG, or visit www.autofinancialgroup.com.