Ridero, the technology platform building infrastructure for vehicle leasing and residual-based financing, announced a strategic partnership with AFG to expand residual-based vehicle financing across new and used vehicles.

The partnership combines AFG's lender programs, residual expertise and residual value guarantees with Ridero's integrated technology and dealer network across two tracks: expanding distribution of AFG's existing programs and enabling lenders to launch and scale new residual-based products.

Expanding Distribution for Existing AFG Programs

Ridero will integrate AFG's existing lender programs into its platform, giving AFG's lender partners an additional origination channel while expanding financing options available to Ridero dealers.

"The first part of this partnership is simple: help dealers get more deals done and help AFG's lender partners originate more business," said Brock Thompson, Co-Founder and CEO of Ridero. "By bringing these programs directly into the dealer workflow, we can expand their reach and create incremental opportunities for everyone involved."

Opening Leasing to More Lenders Without the Residual Risk

The second track enables banks, credit unions, specialty lenders, OEM captives and dealer captives to launch or expand leasing across new and used vehicles without building the specialized technology and residual infrastructure traditionally required.

"A lender that wants to launch or expand leasing shouldn't have to spend years building specialized technology and residual infrastructure," said Thompson. "By combining Ridero's technology with AFG's residual expertise and guarantees, we can give lenders a much simpler path to bring leasing programs to market."

"Residual based financing has proven its value: borrowers save thousands in lower payments, lenders capture incremental volume, and dealers close deals faster. It's a win - win - win. Yet these programs remain concentrated among a handful of players. Through this partnership with Ridero, AFG continues to pursue its mission to expand access to residual based financing and remove the infrastructure burden that's historically kept many lenders on the sidelines," says Richard Epley, Auto Financial Group's CEO.

Together, Ridero and AFG will expand distribution of existing residual-based programs while lowering the barriers for new lenders to enter the market.