Document Type

Report

Credit Enhancement Strategies for Higher Efficiency Vehicles in Maine

Authors

Erin Brown, University of Maine - MainFollow
Jonathan Rubin, University of Maine - MainFollow
Bruce Wyatt

Publisher

Margaret Chase Smith Policy Center

Rights and Access Note

This Item is protected by copyright and/or related rights. You are free to use this Item in any way that is permitted by the copyright and related rights legislation that applies to your use. In addition, no permission is required from the rights-holder(s) for educational uses. For other uses, you need to obtain permission from the rights-holder(s).

Publication Date

9-2021

Publisher location

Orono, ME

Abstract/ Summary

Credit enhancements are a necessary, but not sufficient policy tool to expand access to clean, reliable vehicles. They are necessary because lower-income and historically disadvantaged groups have less access to low-cost financing. They are not sufficient in that credit enhancements alone, while helpful, are not likely to substantially increase the purchase of clean, reliable vehicles with a higher initial purchase price, but comparable or lower long-term cost of ownership. We review two credit enhancement mechanisms: loan loss reserves and interest rate buy-downs.

Repository Citation

Brown, Erin; Rubin, Jonathan; and Wyatt, Bruce, "Credit Enhancement Strategies for Higher Efficiency Vehicles in Maine" (2021). Transportation. 8.
https://digitalcommons.library.umaine.edu/mcspc_transport/8

Version

publisher's version of the published document