The Solution:
New Battery. New Skills. New Life.
Among the growing number of used EVs for sale, you’ll find a steady rotation of first-generation (2010-2017) Nissan Leafs priced under $3,000. These EVs are reliable, need little maintenance and can cut fuel expenses by 60%. So what’s the catch?
After years on the road, these EVs require charging every 30-70 miles. That might suffice as a second or third car for an upper-income family, but it won’t cut it as the only car for low-income family juggling a commute, childcare, and more.
However, a simple battery replacement can double or triple the range of that Nissan Leaf. At 120 mile range, that Leaf becomes a viable option for an average low-income family driving about 30 miles a day.
The GoodWheels Model
GoodWheels combines refurbishing old EVs and upskilling workers, with loan guarantees that enable low-income families to swap their budget-busting, gas-guzzling clunker, for an EV that can save them $1,500 a year.
Upgrade and Upskill
Preparing mechanics for EV careers
More than 90% of auto mechanics never experience meaningful wage-gain. But the remaining 10% somehow make the jump to the next highest wage band. How? They transition to jobs that require experience working with electrical systems.
GoodWheels partners with Vehicles for Change to perform the battery upgrades on Nissan Leafs. Since 1999 Vehicles for Change has repaired and awarded cars to low-income families, while training formerly incarcerated individuals as ASE certified mechanics.
This unique model introduces auto mechanic trainees to EV electrical systems, helping them take their first step towards high-growth and higher-wage career paths.
Change. Not Charity.
Loan guarantees for fair financing
GoodWheels offers low-income households stuck with an old, budget-busting, gas-guzzling clunker a pathway to a better car that will actually save them money and help them to build stronger credit.
Families selected by GoodWheels and Vehicles for Change will trade in their clunker for a refurbished Nissan Leaf at a cost of just $2,000 which is financed over 24 months through our lending partner. The remaining $6,000+ that GoodWheels has invested in acquiring and upgrading the Nissan Leaf are covered by GoodWheels and its donors.
And because GoodWheels guarantees the loan, our lending partner is able to keep the interest rate low enough that the estimated monthly payment of approximately $125 will be offset 100% by the estimated $1,500 savings in fuel and maintenance. After two years, the recipient has a free car that saves them $1,500 a year and has strengthened their credit.