AFC Auto Finance Corporation
Automotive Finance Corporation (AFC) was founded in 1987. Created to provide inventory financing for independent car dealers as they bought and sold vehicles at auto auctions and dealerships, AFC began to provide inventory financing solutions (commonly termed "floorplanning”) for both retail and wholesale dealers.
In September of 1990, AFC began providing on-site floorplanning at an auto auction located in Lexington, Kentucky, now known as ADESA Lexington. It was so successful that AFC expanded its operations nationally and opened loan offices inside most ADESA auctions as well as within some independent auctions in certain markets.
Today, AFC, as a subsidiary of KAR Auction Services, provides financial and business solutions to independent automotive dealers from over 100 branch locations throughout the U.S. and Canada; AFC as a form of dealer payment is accepted at more than 1,000 auctions in this same footprint.
While automotive inventory floorplanning is at the core of our business, AFC also offers financial and other business services that have been tailored to meet the needs of RV, Rental, Salvage, Powersports and Commercial Vehicle dealers.