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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

Motor Trend wheels the 2015 Corvette Z06

The new Chevrolet Corvette Z06 is capable of some absolutely wild metrics. Want proof? Carlos Lago from Motor Trend is here to break it all down. 60 miles per hour? 3.2 seconds. 60 to 0? 91 feet. Lateral acceleration? A staggering 1.16g, a figure that is the highest MT has ever recorded for a vehicle that isn't a race car. It's an utterly astonishing piece of work, this Z06, and just when you think it can't possibly get any more impressive, Randy Pobst hustles an auto-equipped Z06 around Road Atlanta in just 1:30. Aside from the eight-speed auto, Pobst's Z06 had the most aggressive aerodynamic package, the so-called Stage III. Take a look at the 650-horsepower Z06 in Motor Trend's latest video.

Chevy Malibu will become 45-mpg strong hybrid with next update

Come next year there'll be no more mild hybrid pretensions for the Chevrolet Malibu - the next-generation sedan will borrow technology from the 2016 Volt and get a proper hybrid powertrain. A 1.8-liter four-cylinder engine gets help from a two-motor drive unit adapted from the Volt for 182 system horsepower, the motor drive powered by an 80-cell, 1.5-kWh lithium-ion battery. Chevrolet says that when combined with features like grille shutters and a lower ride height, it expects the Malibu Hybrid will post a combined fuel economy rating of more than 45 miles per gallon, which would best the hybrid trims of the Ford Fusion, Toyota Camry and Hyundai Sonata. Electric power alone can power the car up to 55 miles per hour, and The Bowtie's first use of exhaust gas heat recovery will help maintain high hybrid performance in cold weather and be used to heat the engine and cabin. The Malibu Hybrid should go on sale in the Spring of next year, for now there's a press release below. Chevrolet Malibu Hybrid Derives Technology from Volt GM estimates combined fuel economy ratings to exceed 45 mpg DETROIT, 2015-03-25 – Chevrolet's recent production announcement of its all-electric vehicle based on the Bolt EV concept, as well as the introduction of the 2016 Chevrolet Volt, will be joined by a strong hybrid version of the next-generation Malibu. Using technology from the 2016 Chevrolet Volt propulsion system, Malibu Hybrid will offer an estimated combined fuel economy rating exceeding 45 mpg, higher than the combined mileage ratings of the Ford Fusion, Toyota Camry and Hyundai Sonata hybrid variants. "The 2016 Malibu Hybrid will offer impressive fuel economy, exceptional driving characteristics and gorgeous styling," said Jesse Ortega, Chevrolet Malibu chief engineer. "Besides leveraging innovation from the Chevrolet Volt, the Malibu Hybrid also has unique features that help improve aerodynamics, like upper and lower grille air shutters to improve airflow and a reduced ride height, all of which help reduce fuel consumption," Ortega said. An all-new direct-injection 1.8L 4-cylinder engine mated to a two-motor drive unit slightly modified from the 2016 Chevrolet Volt drive unit powers the Malibu Hybrid. The drive unit provides additional power to assist the engine during acceleration, for 182 horsepower (136 kW) of total system power.