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Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.

Chevy working on production Impala Midnight Edition

To put together the Impala Blackout concept for SEMA, Chevrolet didn't need to go much further than its accessories catalog. The in-house connection is what could make it possible for Chevy to get a production version of the Blackout into dealers this model year, with its few bits of chrome trim and dark detailing on the 19-inch aluminum wheels set into an abyss of gloss black paint, black Bowtie, grille surround, rear spoiler and mirror caps. The interior is black leather, with stainless steel for the sill plates and pedals, and an 11-speaker Bose audio system, and it gets the optional 305-horsepower, 3.6-liter V6. The brand's marketing director for cars and crossovers, Steve Majoros, told Edmunds that it could come in late spring, and that it will be called "Midnight Edition." Majoros didn't give any indication of pricing or if the production car will be spec'd out like the concept. If you simply don't want to wait for late spring, you could work your DIY mojo by putting one together the same way Chevrolet did: give the accessories catalog a workout. Related Video:

2015 Chevy Impala Bi-fuel burns CNG, starts at $37,385*

Currently, the only natural-gas-powered passenger car offered for sale by an OEM in the US is the Honda Civic Natural Gas. Starting this fall, that long-running CNG car will be joined by a CNG-burning 2015 Chevy Impala for both fleet and retail customers. General Motors announced today that the car will start at $37,385, plus an $825 destination charge. That comes to $38,210 before taxes and options. Those options include two trim lines, the base LS and the upper-level LT. Chevy doesn't break out the details in the press release announcing the price, but you can see the trim details for the standard gas-powered 2014 Impala here. Exact information on the 2015 models is not available just yet, but GM spokesman Chad Lyons told AutoblogGreen that the equipment that you see listed on the site for 2014 is "almost exactly the same" as what will be available for 2015. The 2015 Impala gets around 19 city mpg on CNG, but official EPA numbers are not yet available. That means the LS will come with 18-inch aluminum wheels, electric variable-assist power steering, projector-beam headlamps, and 10 air bags. The LT adds an eight-inch touch screen with MyLink, premium Cloth interior and dual-zone automatic climate controls. The cost for this upgrade is unspecified. For CNG purposes, we can ignore the numerical prefix used for the gas-powered LT trims, since that denominates the engine type, and all the CNG models use a 3.6-liter engine with hardened valves and valve seats that can better handle natural gas. The trunk capacity also drops from 18.8 cubic feet to 10 cu .ft. in order to fit in the CNG tank that holds the equivalent of 7.8 gallons of gas. That amount of CNG should move you 150 city miles, which is around 19 mpg, but official EPA numbers are not yet available. With the addition of the gasoline on board, the overall range is 500 city miles. The car burns CNG when available and switches to gas with "no interruption" either when the tank is empty or when the driver selects the gas tank. Find more details in the press release below. GM says the CNG Impala will will be available nationwide this fall. CNG is a growing fuel in the US, thanks in part to fracking. The Civic Natural Gas, which starts at $26,640, is growing towards a nationwide availability. Next year, for example, the Shell Eco-marathon Americas in Detroit will allow CNG for the first time. Chevrolet Announces Pricing of CNG-Capable 2015 Impala 2014-05-06 LONG BEACH, Calif.