AFC

Name

AFC

Legal name

Automotive Finance Corporation

Website

https://autofinance.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Dealer Floorplan Financing

NAICS

Sales Financing (522220)

SIC

Finance Lessors (6172)

akta.pro primary industry

Dealer Floorplan & Inventory Financing (FSAKADAD)

akta.pro secondary industry

Distributor & Dealer Finance (Channel Financing) (FSABAHAE)

Keywords

• Dealer floorplan financing
• Inventory financing services
• Automotive dealer lending
• Revolving credit lines
• Vehicle inventory financing

Headquarters

HQ city

Carmel

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Floorplan Financing: AFC provides revolving lines of credit for independent car dealers to finance their vehicle inventory. When a dealer sells a vehicle, the loan advanced against it is repaid. This creates recurring transaction-based revenue from interest and fees on the credit facilities.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

AFC provides flexible dealer floorplan financing through revolving lines of credit to independent used car dealers and rental operators, enabling them to finance vehicle inventory (whole cars, salvage, rental fleet, powersport, RV, and ride-share fleet vehicles) sourced from 1,400+ inventory sources. The offering is supported by a user-friendly online Dealer Portal for account management and a hands-on local sales representative model with more than 100 branch locations across North America.

Product overview

AFC (Automotive Finance Corporation) offers a single unified floorplan financing product for independent used car dealers and rental operators. The core product is Dealer Floorplan Financing, which provides flexible revolving lines of credit allowing dealers to obtain vehicles from 1,400+ inventory sources including auto auctions, customer trade-ins, and dealer-to-dealer trades. This is supported by a User-Friendly Dealer Portal for account management and Dedicated Local Reps providing hands-on local service across 100+ branch locations in North America. AFC is a sister company to OPENLANE (formerly KAR Global) and part of an end-to-end remarketing lifecycle solution.

Differentiator

Problem solved

Functional benefit

Products and services

• Dealer Floorplan Financing AFC's primary service providing flexible dealer floorplan financing for independent used car dealers and rental operators. Offers revolving lines of credit against specific vehicles including whole cars, salvage, rental fleet, powersport, RV, and ride-share fleet vehicles. Credit lines are customized based on dealer qualifications and repaid upon sale of the financed vehicle.

Quantifiable outcome

• Save cash and keep business growing

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• OPENLANE (formerly KAR Global)coreStrategic or Co-development PartnerAFC is a sister company to OPENLANE and is part of an end-to-end remarketing lifecycle solution. Together, the companies provide a comprehensive ecosystem where dealers can shop, finance, inspect, recondition, transport, or sell vehicles through the best partners in the industry.

Scale indicators5 records

Recent moves4 records

Expansion highlights5 records

Direct peers

• NextGear Capital: NextGear Capital (Cox Automotive) is the most direct competitor to AFC, providing floorplan financing for independent used vehicle dealers and remarketing vehicles. It serves the same dealer customer with similar revolving-credit inventory products and is the primary head-to-head rival in North American dealer floorplan.
• Westlake Financial: Westlake Financial is a non-captive auto finance company with dealer floorplan, sub-prime consumer, and dealer loan products serving independent dealers. It competes directly with AFC for the SMB independent dealer segment with comparable floorplan and inventory solutions.

Broad incumbents

• Cox Automotive: Cox Automotive is the parent of NextGear Capital, Dealertrack, Kelley Blue Book, and Manheim auctions. It competes with the OPENLANE/AFC ecosystem as the other major end-to-end automotive remarketing platform, with floorplan financing as one component of a much broader commercial portfolio.
• Toyota Financial Services: Toyota Financial Services is a captive finance arm providing floorplan and inventory financing for Toyota/Lexus franchised dealers. It overlaps with AFC in dealer inventory financing but operates inside a captive OEM vertical with different customer mix and economics.
• Ford Motor Credit Company: Ford Motor Credit provides wholesale floorplan financing (Ford Credit Dealer Floorplan) to franchised Ford/Lincoln dealers across North America. It is a large-scale competitor for floorplan share, particularly inside the franchised dealer base that AFC does not primarily serve.
• GM Financial: GM Financial provides captive floorplan financing for GM franchised dealers as well as commercial lending to independent dealers and rental operators. The franchise captive side competes with AFC at the margin in dealer inventory lending.
• Chase Auto Finance: Chase Auto Finance, part of JPMorgan Chase Commercial Banking, offers commercial floorplan financing for franchised and large independent dealers. It is a large balance-sheet competitor with the ability to write much bigger lines than AFC, although typically serving larger dealer customers.
• Ally Financial: Ally Financial is a major non-captive auto lender offering dealer commercial financing, floorplan, and consumer auto lending. While its core strength is consumer auto, Ally Dealer Financial Services overlaps with AFC in supporting dealer inventory financing across the country.
• Hyundai Capital America: Hyundai Capital America is the captive finance arm providing floorplan financing for Hyundai and Genesis franchised dealers. It competes for dealer inventory financing business inside its OEM channel, comparable to other captive floorplan lenders.

Others

• OPENLANE (formerly KAR Global): OPENLANE is the publicly traded (NYSE: KAR) parent corporate family of AFC, operating North America's largest digital vehicle auction marketplace. It is not a competitor but enables AFC's distribution via cross-promotion and integrated inventory source access across the remarketing lifecycle.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/AFC_Floorplans
• Facebookfacebook.com/AFCsocial
• LinkedInlinkedin.com/company/automotive-finance-corporation

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AFC