1965 Corvette Stingray Convertible on 2040-cars

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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

2016 Chevy Volt zaps into the Detroit Auto Show with big improvements [w/video]

If you need an example of how quickly the plug-in hybrid market is evolving, just take a quick glance at the 2016 Chevrolet Volt. For its freshly introduced new generation at the 2015 Detroit Auto Show, the sedan sports extra range, better efficiency and a host of other improvements to make the vehicle even easier to live with. A big portion of the model's improvements come from Chevy's second-gen Voltec propulsion system. The updated drive unit is 12 percent more efficient and sheds 100 pounds from the scales. The battery itself also drops 21 pounds, while growing in capacity to 18.3 kilowatt hours. It gives the Volt an electric range of up to 50 miles and offers a total driving distance of over 400 miles. In addition, the new 1.5-liter engine offers estimated 41 miles per gallon fuel economy (with no battery). The significant improvement in specs are certainly respectable, but the vast majority of buyers should notice the latest Volt's evolved styling first. Up front, there's a shiny new nose with a more modern take on Chevy's split grille. From there, the design slows back to a more svelte take rear with the original model's futuristic, square taillights not making the transition. Inside, Chevy simplifies the infotainment system and now offers seating for three in the back. Check it all out in the gallery, above, to see how far the latest model has come. Chevrolet Introduces All-New 2016 Volt New model features expressive, sleek design and delivers 50 miles of EV range DETROIT – Chevrolet today unveiled the all-new 2016 Volt electric car with extended range, showcasing a sleeker, sportier design that offers 50 miles of EV range, greater efficiency and stronger acceleration. The Volt's new, efficient propulsion system will offer a General Motors'-estimated total driving range of more than 400 miles and with regular charging, owners are expected to travel more than 1,000 miles on average between gas fill-ups. "The 2016 Chevrolet Volt provides our owners with a no-compromise electric driving experience," said Alan Batey, president of GM North America. "We believe our engineering prowess combined with data from thousands of customers allows us to deliver the most capable plug-in vehicle in the industry." The 2016 Chevrolet Volt's technology and range advancements are complemented by a design that blends sculpted, muscular proportions with aerodynamic efficiency, and an all-new interior with seating for five and improved functionality.

Driving Granatelli's turbine-powered 1978 Chevy Corvette [w/video]

With its curvy snout and feminine haunches, the third-gen Chevrolet Corvette looks like a dreamy – if dated – exemplar of Sports Car Fantasy 101 when viewed through modern eyes. This particular specimen circa '78, clad in silver and black paint with red pinstripes, appears to be a well-preserved example from the era. Apart from its low-profile Pirellis, slightly raised and slotted hood, spacious stance and a certain hand-painted descriptor alongside its crossed flag logos, you'd never guess there's a Space-Age propulsion unit powering this Coke bottle-bodied ride. Climb inside, and you're presented with aircraft gauges and big, colorful square buttons in the center panel. It takes a push of the "Ignitor" button, a tap of the starter button, and a slide of a T-handle for this nearly 40-year-old sports car to start sounding like Gulfstream G650 ready for takeoff. Yep, you're sitting in an 880-horsepower, turbine-powered Corvette, the only one of its kind in the world. Welcome to the whoosh. What The...? Built by Vince Granatelli, son of Indy 500 guru Andy Granatelli, this curious Corvette came into being by cramming a Pratt & Whitney ST6N-74 gas turbine engine into the donor car's lengthy front end. The same type of Jet A-burning mill powered Granatelli Senior's STP-sponsored racecar at the 1967 Indianapolis 500, where it famously led most of the 198 of 200 laps until a $6 transmission bearing failed, knocking it out of the race. The idea of turbine power usurping internal combustion was so threatening that Indy's governing body restricted turbine performance into obsolescence thereafter. A turbine-powered Corvette sounds excessive because it is. But there are also things about this 880-horsepower, 1,161-pound-feet monster that might surprise you. While it smacks of futurist exoticism and cost a then-dizzying $37,000 in 1967, the Canadian-built powerplant uses 80 percent fewer parts than an internal combustion V8 and will run on virtually anything combustible – whiskey, diesel, even Chanel No. 5. Though it's triple the length of a V8, the Pratt & Whitney beast weighs only 285 pounds. It's also one hell of a robust workhorse, typically serving as an auxiliary power unit for commercial aircraft or a generator in oil fields, where it can run for tens of thousands of consecutive hours before needing an overhaul. To adapt the Chevrolet for jet duty, the nose section was gutted and a sub-frame was built to compensate for the loosey-goosey front end.