Auto Financial Group, an online provider of residual-based financing products for credit unions, announced it has launched SmartCarAuctions.com, an online auto auction service.

The site is designed to be a new remarketing source for credit unions, allowing them to create an online inventory of their end-of-term and repossessed vehicles. The credit union can customize its own site on SmartCarAuctions.com to market its inventory to its members. The inventory and auction will run simultaneously and be marketed to the general public at www.SmartCarAuctions.com. Each available vehicle includes a detailed listing with photos and CarFax reports.

"SmartCarAuctions fills a need that our credit union customers have communicated to us," said Richard Epley, president of Auto Financial Group. "Traditionally, when a loan ends or a vehicle is repossessed, credit unions face the hassles of vehicle remarketing - what to do with the vehicle. SmartCarAuctions.com gives them an instant outlet and additional revenue possibilities."

Auto Financial Group currently works with a growing list of more than 100 credit unions nationwide. Registration on SmartCarAuctions.com is free. Credit unions pay a fee once a vehicle is sold. For a limited time, SmartCarAuctions.com is offering the first three sales free for registering credit unions.

http://www.SmartCarAuctions.com