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NATIONAL AUTOMOTIVE FINANCE ASSOCIATION |
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Exclusively Serving the Below-Prime Auto Financing Industry |
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ASSOCIATION COINS NEW TERM TO DESCRIBE INDUSTRYHanover, MD (October 19, 2009) --- Below_Prime is the term coined by the National Automotive Finance (NAF) Association to describe the levels of funding in which its members are engaged. "When the association was founded in 1996," says Marguerite Watanabe, Connections Insight and president of the association's board of directors, "there really was only prime and non-prime, but strata of funding have been defined since then."Steve Hall, driversselect, past president of the association and head of the marketing committee, says "Non-prime is too narrow now, but it is awkward to talk about non-prime, sub-prime, near prime, etc. when we describe our focus. Our members work in all funding levels below prime, and so that is the term we adopted." The marketing committee was charged with creating a new tag line, and in the discussions came up with the entirely new way to describe the financing levels with which it is concerned. "The new tagline," Hall continues, "is active, concise and spotlights the Association's expertise." The line is "Driving Below-Prime Finance" and is being adopted for use in all association communications. The new term will also be evident in marketing messages for the association's 14th annual conference, June 9-11, 2010 in Fort Worth: 'Learn from the Below-Prime Finance Experts." "The term describes the industry so well," says Jack Tracey, the association's executive director, "that it would not surprise us to see it adopted widely." The NAF Association is the only trade association exclusively serving the below-prime auto financing industry. For more information, visit www.nafassociation.com. |