Used Car News: AFC’s Deferred Curtailment Program Hits $2 Million
Automotive Finance Corporation, a provider of digital marketplace solutions for KAR Global, announced more than $2 million in deferred principal payments since launching Principal Pass, the industry-leading deferred curtailment program. The product provides eligible dealers with the option to pay a $50 fee in exchange for a $0 principal payment at the time of curtailment for eligible vehicles, without a change to their existing financial contracted terms.
“Dealers need flexibility in how and when they put their capital to work. Principal Pass preserves cash flow—empowering dealers with expanded operational flexibility,” said Will Mitchell, chief operating officer of AFC. “We’re proud to offer a simple, flexible and affordable solution to help our customers operate more effectively and are thrilled to see the response from dealers since we launched it a year ago.”
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