Auto Financial Group Announces Launch of SmartCarAuctions.com; Online Auction Site Offers Credit Unions New Remarketing Source for End-of-Term and Repossessed Vehicles.Business Editors/Automotive Writers HOUSTON--(BUSINESS WIRE)--May 20, 2004 Auto Financial Group, an online provider of residual-based financing products for credit unions, announced today that it has launched SmartCarAuctions.com, an online auto auction service. SmartCarAuctions.com is designed to be a new remarketing source for credit unions, allowing them to create an online inventory of their end-of-term and repossessed vehicles. The credit union can customize its own site on SmartCarAuctions.com to market its inventory to its members. The inventory and auction will run simultaneously and be marketed to the general public at www.SmartCarAuctions.com. The site is simple for bidders to use, with each available vehicle including a detailed listing with photos and CARFAX Carfax may refer to:
"SmartCarAuctions fills a need that our credit union customers have communicated to us," says Richard Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a Epley, President of Auto Financial Group. "Traditionally, when a loan ends or a vehicle is repossessed, credit unions face the hassles of vehicle remarketing -- what to do with the vehicle. SmartCarAuctions.com gives them an instant outlet and additional revenue possibilities." "We view SmartCarAuctions.com as part of our service offerings to our network of credit unions across the country," continues Epley. "It's it's 1. Contraction of it is. 2. Contraction of it has. See Usage Note at its. it's it is or it has it's be ~have one of the ways we can bring extra value to their relationship with us." Auto Financial Group currently works with a growing list of more than 100 credit unions nationwide. Registration on SmartCarAuctions.com is free. Credit unions pay only a nominal Trifling, token, or slight; not real or substantial; in name only. Nominal capital, for example, refers to extremely small or negligible funds, the use of which in a particular business is incidental. NOMINAL. Relating to a name. fee once a vehicle is sold. For a limited time, SmartCarAuctions.com is offering the first three sales free for registering credit unions. For more information, contact Auto Financial Group at (713) 812-3333 or toll free at (877) 354-4AFG AFG Afghanistan (international vehicle registration) AFG American Financial Group AFG Assistance to Firefighters Grant AFG Arbeitsförderungsgesetz (German: Labor Advancement Law) AFG Accreditation for Growth , or visit www.SmartCarAuctions.com. About Auto Financial Group, Inc. Auto Financial Group, Inc. is a Houston-based company that provides Driving Sense(TM), an online residual Residual See:Residual value based auto financing product for credit unions and other financial institutions. With Driving Sense(TM), credit unions can "build" a vehicle for their members, compare payment terms with conventional loans, and offer their members lower payments (often as much as 40 percent lower), flexible two- to six- year terms, actual ownership of the vehicle and several end-of-term options. Auto Financial Group removes the financial risk to the credit union by guaranteeing the predetermined pre·de·ter·mine v. pre·de·ter·mined, pre·de·ter·min·ing, pre·de·ter·mines v.tr. 1. To determine, decide, or establish in advance: residual value Residual value Usually refers to the value of a lessor's property at the time the lease expires. residual value The price at which a fixed asset is expected to be sold at the end of its useful life. of the vehicle through third party insurance, as well as handling the vehicle's disposition. Auto Financial Group is paid one low administration fee for each Driving Sense(TM) loan, while the credit union earns all the interest. For more information, visit www.autofinancialgroup.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion