Families can receive up to $2,700 to purchase vehicle through By Car Program

CINCINNATI - If you can save $1,300, then you can buy a $4,000 car.

You may wonder how can these numbers possibly add up.

It's part of a new program through Cincinnati-Hamilton County Community Action Agency.

The By Car Program is a new initiative that assist eligible applicants save and budget to buy a vehicle.

CAA’s partner the Greater Cincinnati Microenterprise Initiative or GCMI runs the program.

"For every dollar saved, they get a match of $2. The program has a cap of $4,000, so they will need to save approximately $1,333. They would get a match of approximately $2,666," said Executive director of GCMI, Willie Hill, III.

Fransha Stephens, who is a single mother, was able to save and buy a 2002 Honda Accord after only nine months in the program.

Stephens said she used to struggle to take her two children to school when using public transportation.

"I would go straight home and hope in the shower, change clothes, and run straight back out within 30 minutes to catch the bus to make it to my second job on time. Plus, my son had football, so I had to use two buses for football," Stephens said.

She said her new car has given her the convenience of saving time because she doesn't have to wait at the bus stop anymore.

Stephens said she is also saving money.

"It takes $40 to fill it up and that will last me about a week or a week and a half. On Metro I was spending over $50 a week just getting back and forth to work and getting the kids to school. It's very convenient. I love the vehicle," Stephens said.

The program, which is sponsored by funding from the Finance Fund, Chase Bank, and the American Recovery & Reinvestment Act, will launch a new training session in late September.

Hill said space is limited.

To learn about eligibility requirements, visit www.gcmi.org or contact the office at (513) 569-4816.