By Car Brochure 2022

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By Car

Save earned income to buy a car. Learn to manage your finances.

Now Partnering with OMJ! Lorain County Community Action Agency 936 Broadway Ave., Lorain, Ohio 44052 1-888-245-2009

What is By Car? Tired of walking to work? Borrowing cars from family or friends to get around? By Car may be your solution.

By Car has partnered with OhioMeansJobs Lorain County to help eligible residents purchase a used vehicle. For every dollar saved, the program matches it 3 to 1 toward the purchase of a used vehicle. The match ceiling for the program is now $6,000. Residents can save over time or use a lump sum to purchase a vehicle.

The OhioMeansJobs partnership will also fund a year’s worth of car insurance.

How Does it Work? Participants must be 18 years of age or older, working, participating in a verifiable job search or enrolled in school. The household must be living at or below 200% of the Federal Poverty Line. For 2022, 200% of the FPL is $55,500 for a family of four. These guidelines are updated annually. Call LCCAA to make certain you qualify. To participate you must: ► Register with OMJ by calling 440-3245244. ► Schedule and complete orientation. ► Complete the Work Keys assessment and be engaged in OMJ workshops. ► Be assigned an Employment Specialist. The next steps will be: ► Save $2,000 to put down on a car. ► Complete the Financial Literacy Class at LCCAA. OMJ will match $3 for every $1 to a max of $6,000. You will be able to purchase an $8,000 car. Participants completing their purchase also receive one year of car insurance paid up to $2,500. You will need to provide a valid Drivers’ License and proof of income. Successful participants also agree to own the vehicle for at least six months.

What Will You Learn in the By Car Program? Financial Literacy Topics Topics covered in the financial literacy class include: ► ► ► ► ► ► ► ► ► ► ►

Preparing a budget. Tracking your spending. What counts as income. Identifying required vs. optional expenses. Understanding your credit score. How to read a credit report. How to correct a credit report. How mortgages work. Types of loans and how they work. Avoiding payday lenders. Fees and costs of credit cards.

All topics are expanded upon in LCCAA’s Getting Ahead program. Please call for more details.

Purchase Checklist All participants also receive a copy of the By Car Program’s 102 point checklist for buying a used car. This thorough tool covers every part of the vehicle including:

► ► ► ► ► ► ► ►

Body Tires Suspension Upholstery Fluids Shifting Brakes Steering

Having the vehicle inspected by an independent mechanic prior to purchase is strongly recommended.

The program also covers basic tips on purchasing a used vehicle as well as other major purchases.

Learn more by contacting Bobby Taylor, Planning and Community Services Director, at 440-204-3153 or

Lorain County Community Action Agency 936 Broadway Ave., Lorain, Ohio 44052 1-888-245-2009