AFC
- Company typePrivate
- Founded1987
- HeadquartersCarmel, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
AFC firmographics
Firmographics- 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
AFC industry classification
Industry- 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
Where AFC is headquartered
LocationHeadquarters
- HQ city
- Carmel
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
AFC business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- 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
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Standard Floorplan Financing |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels2 records
AFC product offering
Product offeringCore 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
Companies that use AFC
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
AFC technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
AFC partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- OPENLANE (formerly KAR Global)coreAFC 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
AFC competitors and assessment
Company assessmentDirect 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
AFC social profiles
Digital presenceAFC financial estimates
Financial estimateRevenue estimate
Valuation estimate
AFC leadership team
Management profileNumber of profiles
AFC funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AFC M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AFC
What does AFC do?
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.
Is AFC a public or private company?
AFC is a private company. It is classified as corporate owned and is currently operating.
When was AFC founded?
AFC was founded in 1987. It employs 501 to 1,000 people.
Where is AFC based?
AFC is headquartered in Carmel, United States, in the North America region.
How does AFC make money?
One revenue line is on record: floorplan Financing.
Who are AFC's main competitors?
Direct peers on record are NextGear Capital and Westlake Financial. Broad incumbents are Cox Automotive, Toyota Financial Services, Ford Motor Credit Company, GM Financial, Chase Auto Finance, Ally Financial and Hyundai Capital America. OPENLANE (formerly KAR Global) is listed as an others.
Does AFC have an API?
No public API is recorded for AFC.
What industry is AFC in?
AFC's product category is Dealer Floorplan Financing. Its primary akta.pro industry code is FSAKADAD, Dealer Floorplan & Inventory Financing, with a secondary code of FSABAHAE, Distributor & Dealer Finance (Channel Financing). Its NAICS code is 522220 and its SIC code is 6172.