The SOURCE Eliminates Transportation Barriers and Improves Well-Being with Vehicle Purchase Program

Last year The SOURCE received a grant from the Wege Foundation to pilot a vehicle purchase program. As part of this program, an employer contribution is matched with grant funding and added to an employee’s cash down payment to reduce the cost of vehicle purchase and make more reliable transportation more accessible. Recipients also receive financial coaching from The SOURCE and may be eligible for loans through SOURCE financial partners, including AAC Credit Union.

Transportation-related barriers are a top concern for SOURCE clients every year. In 2024, transportation was second only to housing in terms of requests for assistance, with nearly 30% of SOURCE clients requesting help with transportation. Eliminating transportation barriers can have a dramatic positive impact on reducing absenteeism and turnover while improving an individual’s financial and mental health.

In the first year of our Ways to Wheels pilot, 100% of participants reported their transportation barriers were eliminated and 100% remained employed. All recipients of Ways to Wheels funding reported improved mental health. Interest rates for Ways to Wheels participants were nearly 4% lower than the national average and the average loan amount was just over $15,000 versus an average in Michigan of more than $26,000 for used cars.

We will develop a recommendation for vehicle purchase benefits among our employer partners at the conclusion of the two-year pilot. We are grateful to the Wege Foundation for their continued support of The SOURCE. Our philanthropic partners allow us to continue to test new concepts to help our clients reduce barriers. We look forward to a successful second year of Ways to Wheels!