The AFSA Education Foundation participated in the Congressional Black Caucus Foundation’s 54th Annual Legislative Conference, joining representatives from the National Automobile Dealers Association (NADA) and the National Association of Minority Automobile Dealers (NAMAD). The conference drew nearly 16,000 attendees from both the United States and abroad.
A panel session titled "Car Buying, Credit, and What You Need to Know" was moderated by Myra Dandridge, Executive Director of External Affairs and Public Policy for NADA. Panelists included Rhonda Ashburn, Executive Director of the AFSA Education Foundation; Marc Bland, Vice President for New Business Development and Growth Audiences at S&P Global; James H. Colon, Owner and Dealer Principal at Marysville Toyota; and Perry Watson IV, President of NAMAD.
The discussion targeted consumers such as first-time car buyers, returning buyers, young adults, college students, and those with low-to-moderate incomes. Panelists provided information for individuals considering buying or leasing a car.
Resources for consumers were highlighted during the session. These included the AFSA Education Foundation’s MoneySKILL personal finance curriculum, which features modules on preparing to acquire a vehicle, operating a vehicle, and vehicle financing. The collaboration between AFSA and NADA through AWARE (Americans Well-informed on Automobile Retailing Economics) was also noted as a resource for consumers looking to purchase or finance a vehicle. Additionally, the “Understanding Vehicle Financing” brochure, developed with the Federal Trade Commission, NADA, and AFSA Education Foundation, was mentioned. A new brochure titled “Know Before You Buy,” created by NADA with support from NAMAD, AIADA, the National Urban League, and the League of United Latin American Citizens, was also introduced.
Audience members engaged with the panel and were encouraged to use what they learned when visiting dealerships or seeking vehicle financing.