The AFSA Education Foundation recently participated in a consumer panel at the Congressional Black Caucus Foundation's 54th Annual Legislative Conference. The event aimed to highlight car-buying and financing resources developed in collaboration with the National Automobile Dealers Association (NADA), the National Association of Minority Automobile Dealers (NAMAD), and other organizations.
According to the American Financial Services Association (AFSA), their Education Foundation joined NADA and NAMAD at this longstanding policy forum, which attracts national stakeholders to discuss issues impacting Black communities. The panel, titled "Car Buying, Credit, and What You Need to Know," was designed for first-time and returning buyers, students, and consumers with low-to-moderate incomes. It aligned industry and nonprofit partners on practical steps for purchasing or leasing a vehicle. The collaboration emphasized voluntary, market-driven consumer education as a means to informed, confident financing decisions.
The foundation's MoneySKILL program is a free personal finance curriculum comprising 37 modules. AFSAEF highlights auto-related topics within this structure to assist consumers in preparing for acquisition, understanding operating costs, and evaluating vehicle financing trade-offs. The modular design allows educators and community partners to tailor lessons for varied audiences, supporting classroom and workshop use without cost barriers—an approach consistent with expanding access to credit literacy through private-sector initiatives.
NADA notes that U.S. consumers purchase between 15–20 million new vehicles annually, with more than 80% of those purchases being financed—often at the dealership. This underscores the importance of clear, pro-consumer financing information and robust compliance resources. These figures illustrate why industry-led education efforts such as AWARE materials and buyer guides can materially improve outcomes by helping families compare options, understand total costs, and secure sustainable credit consistent with household budgets.
Founded in 1990, the AFSA Education Foundation is a Washington D.C.-based nonprofit focused on delivering free personal finance education and training to educators and learners nationwide. Its flagship MoneySKILL program provides customizable online coursework spanning budgeting, credit, insurance, saving, and investing.