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The Mobility Agenda addresses and pursues opportunities to improve
access to private vehicles for low-wage workers in need of reliable,
flexible, affordable transportation. |
Affordable
and reliable transportation is a necessity for a strong economy in
every community. Public transit in dense areas with housing and
employment opportunities can serve a large population. Yet transit must
be part of a larger menu of options because it does not serve all areas
or all workers.
Eighty-eight percent of
all people drive to work, while only about 5 percent use public
transit. Private vehicle ownership for low-wage workers is an important
factor in a strong economy and an 
inclusive society and has significant
benefits for individuals and families. Cars ensure more people can
fully contribute to the local economy because vehicle ownership
increases employment opportunities, hours worked, and income.
On this page, The Mobility Agenda provides resources about car financing research, opportunities, and news.
Please visit our sites on transportation and driver's license issues.
Resources
Seven lessons outlined in the paper:
Lesson 1 Non-prime used auto lending is a financially viable line of business.
Lesson 2 Reduce the underwriting gap by transferring traditional
character lending techniques into an automated decision-making process.
Lesson 3 Get in front of dealers by assisting members in finding cars.
Lesson 4 Employ a “hard close” to cement bonds with members.
Lesson 5 Insure borrowers against events out of the realm of their control.
Lesson 6 Export risks by using available loan loss insurance products and guarantees.
Lesson 7 Keep in touch with borrowers by allocating resources to monitor and collect loans at the first sign of trouble.
http://www.ncuf.coop/home/news/subnews/SteerClearRelease.aspx
- Table of Contents
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- Before You Visit a Dealer
- Finding a Reliable Car or Truck
- Paying a Fair Price for a Used Car or Truck
- Financing Your Used Vehicle Purchase
- How to Handle Your Trade-In
- Your Legal Rights if Things Go Wrong with a Used
Car or Truck:
A Brief Explanation of Warranties
- Should You Buy an Extended Service Contract on
a Used Car?
- Should You Buy Credit Life, Disability or "Gap"
Insurance?
- Should You Buy a Low-Mileage "Demonstrator,"
"Program Car," or "Executive Model"?
- Safety
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The
Annie E. Casey Foundation recently produced a documentary outlining the
issue of car financing for low-wage workers. The video is now available
online and is accompanied by a discussion guide.
Pursuit
of the Dream: Cars & Jobs in America, produced by the Annie E.
Casey Foundation, explains the importance of affordable, reliable
transportation for building the economic success of low-income families
and their communities.... Recommendations on how to avoid these
pitfalls and tips for knowledgeable car purchase and ownership are
provided in the documentary and in the printed discussion guide,
included in each DVD case. The discussion guide also suggests ways to
use the documentary with different audiences and includes resources for
more information. The 22-minute documentary is provided in both English
and Spanish versions.
Click here to see the full video online:
Click here to see the accompanying discussion guide:
Click here to order a free copy of the DVD:
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More Resources
Making Connections Survey Data for Ten Cities
The Mobility Agenda
Center for Economic and Policy Research
Analysis of Sub-Prime Lending Program
University Federal Credit Union, Austin Texas
Car Financing for Low and Moderate Income Consumers
Aspen Institute
Spring Newsletter 2008
Economic Justice Project Update
Auto
Fraud in Washington State: Poor quality cars, packing & limited
English proficient individuals; Used Vehicle Buyers Bill of Rights Act
Car Financing in the News
Drive
out of poverty with a car
Peter Valdes-Dapena
CNN Money,
May 5, 2008
High-tech gear disables car if borrower misses payment
by Chris Woodyard
USA Today, March 30, 2008
Repossessions on the rise, Inland auto lenders say
by Rodd Cayton
The Press-Enterprise, March 29, 2008
Car repossessions on the rise
by Dylan McCament
Mount Vernon News, March 18, 2008
The used-car blues
by Waveney Ann Moore
St. Petersburg Times, March 16, 2008
Trapped by title loan?
by Marie Rohde
Milwaukee Journal Sentinel, March 16, 2008
Entering the reposession lane: Default rates soar on auto loans in pattern likened to mortgage crisis
by Jenn Abelson
Boston Globe, March 7, 2008
Tough economic times creating lots of work for repo man
by Troy Kehoe
WSBT.com (Indiana), March 6, 2008
Pain spreads: Car repos rise
by John Eckberg
The Cincinnati Enquirer, February 26, 2008
Auto Loan Delinquencies on the Rise
by Chris Haak
Reuters, February 14, 2008
Delinquent auto loans on the rise
by Karen Rouse
The Denver Post, February 7, 2008
Prime US auto asset-backed securites losses up 60 percent year-on-year basis
Forbes.com, February 1, 2008