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AUTOFINANCE GROUP SUCCESSFULLY COMPLETES PRIVATE PLACEMENT

 WESTMONT, Ill., Jan. 19 /PRNewswire/ -- AutoFinance Group Inc. (AFG) (NASDAQ: AUFN) today announced that it has successfully completed the sale in a private placement of $3.8 million of 6.75 percent Asset Backed Certificates. The certificates represent interests in the AFG 1992-B Grantor Trust which owns retail automobile installment sales contracts, serviced by AFG. AFG has used the proceeds to reduce short-term debt.
 AutoFinance, with offices in Westmont and Burbank, Calif., acquires automotive installment sales contracts from franchised new car dealers.
 -0- 1/19/93
 /CONTACT: A.E. Steinhaus, president, or Blair Nance, CFO, of AutoFinance Group, 708-655-7100/
 (AUFN)


CO: AutoFinance Group Inc. ST: Illinois, California IN: AUT FIN SU: OFR

JL-EH -- LA001 -- 6121 01/19/93 08:04 EST
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Publication:PR Newswire
Date:Jan 19, 1993
Words:121
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