SPONSOR A DRIVER
Change a family tree by making a low-risk, socially conscious investment!
Over the long term, the most cost-effective transportation solution is purchasing a 10-year-old vehicle with fewer than 125,000 miles, taking care of it, and driving it until the doors fall off. These cars generally cost between $7,500 and $10,000.
To put these vehicles within the reach of a low-wage-earning family, Workers2Work guarantees four-year, five percent car loans between sponsors and drivers who have shown financial responsibility by successfully completing our Kickstart Program. Sponsors can select the driver they wish to support. Drivers make weekly loan payments to Workers2Work and we repay the sponsor in four annual payments.
If the driver defaults, we repossess the vehicle and sell it to a new driver (or on the open market). If the sales price is less than the outstanding balance, Workers2Work makes up the difference. To ensure that we can meet our obligations, Workers2Work maintains a bad debt fund equal to 20 percent of the outstanding loans.
