Americans Well-informed on Automobile Retailing Economics

AWARE (Americans Well-informed on Automobile Retailing Economics) is a national nonprofit organization – 501 (6) – that was formed in 2005 to enhance consumer understanding of the vehicle financing process. [USDA Extension Service (http://www.csrees.usda.gov/newsroom/newsletters/familyeconnews/06_sept.html#resources}] AWARE seeks to ensure that financing remains available and affordable to the broadest possible spectrum of consumers. [Federal Citizen Information Center (http://www.pueblo.gsa.gov/links/ca3links.htm)]

According to AWARE’s website, it was formed by leaders of the auto financing industry and is a collaborative industry effort to provide consumers with information to help them successfully navigate the auto financing system. While other industry trade associations and companies have formed financial literacy initiatives, AWARE seems to be the only industry-backed organization formed to educate consumers specifically on auto financing.

AWARE’s website provides tools, calculators, articles and other resources to help consumers sufficiently prepare for their auto financing decisions. The website and materials are available in both English and Spanish. [New York State Banking Department Financial Education Resources (http://www.banking.state.ny.us/fec/claware.htm)]

To help spread its information and materials, AWARE works with organizations across the United States that are also committed to expanding consumers’ understanding of personal finance topics, including the vehicle financing process. These organizations disseminate AWARE’s information on vehicle financing to consumers nationwide.

Organizations helping to share AWARE’s information with the public include the Council of Better Business Bureaus, Federal Reserve Bank of Chicago Money Smart Week, Maryland Coalition for Financial Literacy, Center for Economic Progress, J.D. Power and Associates, Economic Awareness Council, and DC Saves.

Some government websites also provide links to AWARE, including the Federal Trade Commission, USDA Extension Service, Federal Citizen Information Center, and DOLLAR WI$E Campaign of the U.S. Conference of Mayors.

References

External links

• AWARE (http://www.AutoFinancing101.org)