Junior Achievement Joins Honda to Launch Website Educating Young Buyers on Auto Finance and Vehicle Ownership
A national survey showing that teen drivers lack basic knowledge of automobile finance and total vehicle ownership costs has sparked Junior Achievement USA (JA) and American Honda Finance Corporation (AHFC) to create a new website, www.financialtestdrive.org, to help young drivers navigate the financial aspects of owning and maintaining a vehicle.
The national survey commissioned by Junior Achievement of 500 16- and 17-year-old drivers found that new drivers would benefit from basic education about the automobile loan process and the costs of vehicle ownership. For example, when asked what type of information is typically requested on a car loan application, 45% of respondents did not know that proof of income was required by auto lenders.
The new website enables young drivers to test their knowledge of auto finance and vehicle ownership costs through an interactive quiz. The site also provides helpful information and terminology related to auto financing options, auto insurance coverage, routine maintenance, and budgeting. The goal is to help young drivers make better-informed decisions when shopping for a new car.
AHFC also has sponsored Junior Achievement to support the JA Personal Finance® program, an interactive and experiential blended-learning curriculum which shows teens how to use credit responsibly, budget, and save. The program is targeted to high school students and is facilitated by volunteers in communities across the nation whose personal and professional experiences enhance student learning.
JA Personal Finance is accessible through Junior Achievement's online Learning Management System and available to local high school students through local Junior Achievement offices across the country.
Junior Achievement is the world's largest organization dedicated to giving young people the knowledge and skills they need to own their economic success, plan for their future, and make smart academic and economic choices. JA programs are delivered by corporate and community volunteers, and provide relevant, hands-on experiences that give students from kindergarten through high school knowledge and skills in financial literacy, work readiness and entrepreneurship. Today, JA reaches more than 4.5 million students per year in 113 markets across the United States, with an additional 5.8 million students served by operations in 120 other countries worldwide. Junior Achievement USA is a member of JA Worldwide. Visit www.ja.org for more information.