October 22, 2017 10:28 PM ET

Diversified Financial Services

Company Overview of Automotive Finance Corporation

Company Overview

Automotive Finance Corporation provides financial and business solutions to independent automotive dealers. It offers floorplan products, such as power sports inventory, salvage, recreational vehicles inventory, and rental/fleet finance, as well as automotive floorplans and commercial truck products. Automotive Finance Corporation was formerly known as CITA, Inc. and changed its name to Automotive Finance Corporation in December 1993. The company was founded in 1987 and is based in Indianapolis, Indiana with branch office locations throughout the United States and Canada. Automotive Finance Corporation operates as a subsidiary of ADESA, Inc.

2950 East Main Street


Indianapolis, IN 46168

United States

Founded in 1987





Key Executives for Automotive Finance Corporation

President, Chief Financial Officer, Principal Accounting Officer, Treasurer and Controller
Chief Operating Officer
Director, Chairman of KAR Holdings Inc and Chief Executive Officer of KAR Holdings Inc
Age: 57
Chief Executive Officer of Adesa Inc, President of Adesa Inc and Director of Adesa Inc
Age: 57
Senior Vice President of Risk
Compensation as of Fiscal Year 2017.

Automotive Finance Corporation Key Developments

Automotive Finance Corporation Releases Inventory Dashboard Enhancement to AFCDealer™ Website

Automotive Finance Corporation has announced the release of its new Inventory Dashboard for AFC floorplan financing customers. AFC and its floorplan affiliates provide inventory finance solutions to more than 11,000 independent automobile dealers throughout the U.S. and Canada. The Inventory Dashboard, available on the AFCDealer™ website and AFC On the Go mobile app, provides dealers with instant access to current and historical account information with detailed insights into vehicles floored with AFC. The enhanced Inventory Dashboard offers new functionality to provide dealers with greater transparency, insights, and account information. Through the new total account balance chart, dealers can view their AFC investment portfolio, including account balance, credit limit, principal, interest, and fees. Dealers can also view deep, vehicle-specific investment information for each vehicle floored with AFC. Through the Inventory Dashboard tool’s innovative turn time table, dealers can view their 18-month vehicle purchase history to identify which vehicles moved most quickly from their dealership. And with 27 new filter options available in the Inventory Dashboard’s reports function, dealers can sort and customize which data is most important and relevant to their needs.

Automotive Finance Corporation Expands Leadership Team

Automotive Finance Corporation announced that Paul Kramarz has joined the company as senior vice president of risk, and Joe Keadle has been promoted to chief operating officer. Kramarz joins the company with nearly 25 years experience in risk analytics and operational management for the financial services sector. In this newly created role, Kramarz will focus on risk mitigation strategies and limiting credit risk while strategically growing AFC’s portfolio. Kramarz will report directly to Jim Money, AFC president. Prior to joining the company, Kramarz served as a director in the financial services advisory practice at Price Waterhouse Coopers.

Automotive Finance Corporation Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Automotive Finance Corporation announced unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net income of $29.6 million compared to $22.3 million a year ago. EBITDA was $80.2 million compared to $68.3 million a year ago. Adjusted EBITDA was $85.9 million compared to $73.9 million a year ago. Operating profit was $34.4 million compared to $31.0 million a year ago. For the nine months, the company reported net income of $84.1 million compared to $50.3 million a year ago. EBITDA was $234.3 million compared to $149.8 million a year ago. Adjusted EBITDA was $216.1 million compared to $148.5 million a year ago. Operating profit was $98.0 million compared to $87.6 million a year ago.

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