More Than Wheels Inc

TO HELP STRUGGLING INDIVIDUALS & FAMILIES BREAK THE CYCLE OF POOR FINANCIAL DECISION MAKING BY USING THE CAR BUYING PROCESS TO CATALYZE LASTING CHANGE, FINANCIAL STABILITY AND CONTROL.

MORE THAN WHEELS COUPLES THE NEED FOR RELIABLE TRANSPORTATION WITH A SET OF TRANSFORMATIVE SERVICES DESIGNED TO PRODUCE LONG-TERM FAMILY STABILITY AND SELF-SUFFICIENCY. USING BEHAVIOR CHANGE TECHNIQUES, AND PROVIDING FINANCIAL EDUCATION AND CREDIT REPAIR SERVICES, AND SUPPORTING THE PRACTICE OF MAKING AN ON-TIME PAYMENTS FOR CAR LOANS, MORE THAN WHEELS WORKS WITH LOW TO MODERATE INCOME INDIVIDUALS AND FAMILIES TO OBTAIN A NEW OR SLIGHTLY USED, BUT CERTIFIED, CAR THROUGH A SET OF CAR DEALER AND BANK AND CREDIT UNION PARTNERS. MORE THAN WHEELS HELPS CLIENTS TO SELECT A CAR THAT FITS INTO THEIR BUDGET AND RETAINS GOOD VALUE AFTER THE LOAN IS REPAID, THEREBY ENDING A CYCLE OF POOR FINANCIAL DECISIONS MADE EVEN WORSE BY POOR CAR CHOICES. MTW PARTIALLY GUARANTEES ITS LOANS BASED ON PROGRAM CONFIDENCE AND HISTORY OF CLIENT SUCCESS. MORE THAN WHEELS PROVIDES ONGOING SUPPORT AND ADVOCACY FOR THE LIFE OF THE LOAN (GENERALLY 66 MONTHS), MONITORS CREDIT SCORES ANNUALLY, AND PROVIDES ADDITIONAL COUNSELING OR EDUCATION AS NEEDED TO ACHIEVE LONG TERM SUCCESS.

THE ORGANIZATION RECEIVES DONATIONS IN THE FORM OF USED VEHICLES. DONATED VEHICLES ARE EVALUATED AND THEN REPAIRED FOR USE BY CLIENTS OR DISPOSED OF WITH THE PROCEEDS GOING TO SUPPORT THE ORGANIZATION. VEHICLES ARE TRANSFERRED TO CLIENTS UPON THEIR ADMITTANCE INTO THE EDUCATIONAL AND CREDIT REPAIR PROGRAM TO PROVIDE AN INTERIM TRANSPORTATION SOLUTION. THE CLIENT PAYS A MONTHLY FEE FOR THE USE OF THE USED VEHICLE. THE ORGANIZATION RETAINS A LIEN ON THE VEHICLE. UPON THE SUCCESSFUL COMPLETION OF THE EDUCATIONAL PROGRAM, THE CLIENT PURCHASES ANOTHER VEHICLE. THE USED VEHICLE IS TRANSFERRED BACK TO THE ORGANIZATION IN ACCORDANCE WITH A SIGNED AGREEMENT WITH THE CLIENT.

THE ORGANIZATION PRE-NEGOTIATES TRANSACTIONS WITH SELECTED AUTOMOBILE MANUFACTURERS AND DEALERS, BANKS AND CREDIT UNION, SUPPLIERS OF EXTENDED WARRANTIES AND INSURANCE PRODUCTS TO FACILITATE ALL PARTS OF THE TRANSACTION RELATING TO THE PURCHASE OF A NEW VEHICLE. THE ORGANIZATION PROVIDES A CONSULTING SERVICE FOR THE PURCHASE OF AUTOMOBILES, FOCUSING ON NEEDS ASSESSMENT, INCOME VERIFICATION, CREDIT ANALYSIS, CREDIT CONSULTING AND FINANCING PRE-APPROVAL. ALL OF THIS IS DONE WITHIN THE CONTEXT THAT ENHANCES THE DIGNITY AND THE SELF-RESPECT OF THE CLIENTS. THE ORGANIZATION ALSO PROVIDES A LIMITED FINANCIAL GUARANTEE TO PARTICIPATING BANKS AND FINANCIAL INSTITUTIONS IN EXCHANGE FOR LOANS WITH REDUCED INTEREST RATES TO PERSONS OF LOW AND MODERATE INCOME. CLIENTS PAY A FEE OF $895 FOR THIS SERVICE. IN ADDITION, THE ORGANIZATION RECEIVES A SMALL LOAN ORIGINATION FEE FROM THE SELECTED LENDING INSTITUTION.