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AUTOFINANCE GROUP INC. ANNOUNCES SUCCESSFUL COMPLETION OF OFFERING

 AUTOFINANCE GROUP INC. ANNOUNCES SUCCESSFUL COMPLETION OF OFFERING
 WESTMONT, Ill., May 20 /PRNewswire/ -- AutoFinance Group Inc. (NASDAQ: AUFN) today announced that it has successfully completed the sale in a private placement of $16,700,000 of 7 percent asset-backed certificates. The certificates represent interests in the AFG 1992-A Grantor Trust, which owns retail automobile installment sales contracts, serviced by AFG. AFG has used the proceeds to reduce short-term debt.
 AutoFinance Group Inc., with offices in Westmont and Burbank, Calif., acquires automotive installment sales contracts from franchised new car dealers located in six states. The company has recently commenced marketing activities in three additional states.
 -0- 5/20/92
 /CONTACT: A.E. Steinhaus, president, or Blair Nance, CFO, of AutoFinance Group, 708-655-7100/
 (AUFN) CO: AutoFinance Group Inc. ST: Illinois IN: AUT FIN SU: OFR


DM-KJ -- LA006 -- 2168 05/20/92 08:06 EDT
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Publication:PR Newswire
Date:May 20, 1992
Words:142
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