Auto Financial Group and CarLotz Team Up to Provide a Comprehensive Remarketing Solution

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Apr 09, 2019, 11:00 ET

HOUSTON, April 9, 2019 /PRNewswire/ -- Auto Financial Group (AFG) and CarLotz announced today a new remarketing partnership. Through this relationship, AFG's clients will have access to a comprehensive remarketing solution that will not only help simplify their process but will place vehicles for sale through the optimal channel to maximize the return on their portfolio.

"The partnership with AFG enables us to utilize our national retail remarketing footprint along with our combined wholesale expertise to ensure that AFG's clients receive the greatest possible proceeds with an easy, one-stop solution," says Michael Bor, CEO of CarLotz.

"We are excited to partner with CarLotz and open up a retail remarketing option for our clients," says Richard Epley, CEO of AFG.

AFG's clients will be able to send assignments electronically. Once an assignment enters the system, using data analytics and recent retail and wholesale experience results, the vehicle is placed in the channel predicted to yield the highest return. AFG and CarLotz will handle transportation and reconditioning of the vehicle, as well as all necessary paperwork. Clients receive proceeds minus a flat service fee as soon as the vehicle sells.

About Auto Financial Group

Auto Financial Group (AFG), a Houston-based company, provides an online, residual based, walk-away vehicle financing product called AFG Balloon Lending, as well as vehicle leasing and vehicle remarketing to financial institutions across the United States. The AFG Remarketing program is a proven solution for financial institutions that offers the greatest financial return to their clients by matching assets to the selling network with the greatest number of buyers. For more information about AFG call toll free at 877-354-4234, or visit www.autofinancialgroup.com

About CarLotz

CarLotz is a used vehicle consignment and retail remarketing business that enables consumers and corporations to make the most money possible when selling their vehicles. For a flat fee, CarLotz prepares the vehicle for sale, markets it nationwide, manages buyer inquiries, conducts test drives from its national footprint of retail stores, negotiates a deal on the seller's behalf, including providing financing, warranty and trade-in options, and cuts the seller a check when the vehicle sells. The company's unique consignment model typically generates sellers thousands more than trade-in and wholesale auction channels, while buyers shop attractive, competitively priced inventory online and through CarLotz retail locations. CarLotz was founded in 2011 and currently operates eight retail locations and three reconditioning centers in Virginia, North Carolina, Florida, Illinois and Texas. For more information about CarLotz call 833-227-5689 or visit www.carlotz.com

SOURCE Auto Financial Group