Automotive Finance Corp. (AFC), a business unit of KAR Auction Services, has announced that Ray Waltz, a former executive for Manheim Automotive Financial Services, has accepted the position of director of business development. He will be based out of AFC’s headquarters in Carmel, Ind.

In his new role, Waltz will assist AFC in building upon inventory financing opportunities in specialty segments such as RV, powersports, rental and commercial truck. He will also explore and evaluate financing of other products adjacent to automotive — as AFC continues to expand this portion of its business through diversification strategies, according to the company.

Waltz brings almost 30 years of experience — with industry leading subsidiaries of General Motors Corp. (GMAC) and Manheim Auctions (specifically MAFS) — to his role at AFC.

“Ray’s wealth of experience and industry knowledge spans nearly three decades and makes him a key addition to our team,” said Neill Waters, AFC’s vice president of marketing and business development. “We view his appointment to this role as a sign of our commitment to remaining a leading inventory finance source within non-automotive segments. AFC’s product management discipline, as well as an increasing demand from our customers for growth in our specialty programs, led us to Ray. We are fortunate that we were able to find someone of his caliber, and I’m confident that Ray will fit in well with our culture, customer-first mindset and innovative philosophies.”

“I am thrilled to be a part of an industry-leading finance company like AFC,” said Waltz. “It is an exciting time as I begin the next chapter of my career.”