Ridero, AFG Partner to Scale Residual-Based Auto Financing
Ridero and AFG have formed a strategic partnership aimed at expanding residual-based vehicle financing and leasing across new and used vehicles.
Ridero, a technology platform focused on vehicle leasing infrastructure, and AFG have announced a strategic partnership designed to broaden residual-based vehicle financing options for lenders across the United States, the companies said Monday.
Under the agreement, the partnership is expected to drive incremental loan originations through AFG's existing lender programs. At the same time, lenders will gain the capability to launch and scale leasing products covering both new and used vehicles, an area where access has historically been limited for many financial institutions.
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The collaboration positions Ridero's technology stack as a foundational layer for lenders seeking to enter or expand in the vehicle leasing market without building proprietary infrastructure from scratch. AFG's established lender relationships are central to the distribution strategy, enabling faster deployment of residual-based financing products to a broader network.
Residual-based financing, which determines monthly payments in part by estimating a vehicle's value at lease end, has long been dominated by captive automaker finance arms and large banks. Partnerships like this one signal a growing effort by fintech-oriented platforms to open that market to a wider range of lenders, particularly as demand for flexible vehicle ownership alternatives continues to evolve.
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