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New auto loans could soon extend out to 84 months

Cars and trucks are more expensive than ever before. In order to boost sales and help consumers afford new vehicles, automakers are offering longer and longer terms for auto loans. This past week, Bloomberg reported that FCA's Ram Trucks division is currently offering the longest loans. Some stretch to 73 months. Jeep, Fiat and Chevy aren't far behind. More noteworthy is that we'll likely soon see lenders moving from 73-month to 84-month loans. That's seven years worth of interest. More than two-thirds of US auto sales come from light trucks like the Ford F-150, Chevy Silverado and Ram 1500. The average transaction price of a new vehicle is well over $30,000. It's not difficult to spec out a heavily-optioned truck up to $60,000. Vehicles depreciate from the moment they roll off a dealer lot, and these six or seven-year loans could hurt consumers and lenders both in the long run. The U.S. Senate voted last week to kill rules that would prevent discriminatory auto lending. These Obama-era guidelines were meant to curtail lenders who offered higher loans based on race, religion, sex or national origin. Related Video: News Source: Bloomberg Chevrolet Fiat RAM Car Buying car loan car values

Chevy reveals new IndyCar aero package

The IndyCar Series is not one that demands its participating teams and automakers to design their own chassis as they do in Formula One, but for this season, the organizers have opened it up to allow for custom aero packages. What you're looking at here is the new look of the chassis to be fielded by teams running under Chevy power. Based on the Dallara DW12 chassis – introduced three years ago and named after the late Dan Wheldon – Chevy's new package is designed for road courses and short ovals, with the speedway configuration to be revealed later. The kit features new wings front and rear and more sculpted side pods. It's also got new wedges at the back to envelop the otherwise open wheels that are a hallmark of Indy racing, a more streamlined engine cover and bigger rear bumper pods. The new package will debut at the Grand Prix of St. Petersburg that will kick off this year's championship in Florida on March 29, followed by the road-course grands prix in Louisiana, Long Beach, Alabama and Indianapolis before the new package needs to be ready for the Indy 500 late in May. Half of the teams on the starting grid this season will be running under Chevy power and are expected to use this new aero kit, with the remaining Honda teams slated to run a different package of their own. Chevrolet Debuts All-New 2015 IndyCar Aero Package Chevy-developed bodywork delivers improved aerodynamics 2015-02-17 INDIANAPOLIS – Chevrolet-powered racecars in the 2015 Verizon IndyCar Series will feature Chevrolet-developed aero packages. Chevrolet introduced the road course/short oval body design today at the Indianapolis Motor Speedway. It is distinguished from the previous racecar with new front wing elements, sculpted side pods and a new rear wing. A speedway configuration for the aero kit, designed for high-speed ovals, will be introduced ahead of its competitive debut at Indianapolis in May. "This is an important milestone in Chevrolet's involvement in IndyCar racing," said Jim Campbell, General Motors U.S. vice president of Performance Vehicles and Motorsports. "We focused on developing an aerodynamic package that delivers an balanced combination of downforce and drag, along with integrated engine performance. It's a total performance package." The new Chevy road course aero configuration delivers greater aerodynamic performance than the previous design.

First 2016 Chevy Volt commercial rocks us to sleep

The 2016 Chevrolet Volt, with its thorough restyling and increased all-electric range, is an exciting evolution of Chevy's groundbreaking plug-in hybrid, so it's only fitting that the commercial campaign to sell it to the masses also be engaging and vibrant. Well, the first ad has just been officially released and it rocks... us to sleep. Now, we get that General Motors didn't want to repeat past Volt-commercial mistakes. No one wants to see dogs licking feet or dumb (and weirdly horny) aliens again. Nor would it be smart to slam all-electric vehicles, since it now sells the Spark EV and has just revealed its 200-mile Bolt concept. So, what does that leave? How about a mostly computer-generated spot that relies on cliche images and an upbeat synthetic soundtrack to communicate that the Volt is now as boring as other four-door appliances? An intro, featuring a lightly-bearded gentleman peering at his tablet through designer glasses launches us into the action as the Volt makes its way across a city bridge, then a curvaceous country road. Chevrolet doesn't include voiceover to inform you that the new Volt has a 50-mile battery-only range. There's no mention of its gas mileage once its electric charge is depleted – items that just might be of importance to hybrid buyers. The ad also makes no attempt at establishing an emotional connection, either through drama or comedy. There are, however, lots of fast cuts of the new, normalized interior, including a two-second detail shot featuring the windshield wiper switch. We imagine that this is only the first in a series of spots that will tell the Volt story and motivate potential buyers to run down to their local dealer, hopefully the next spots will be more interesting and informative. View 16 Photos