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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

2022 Chevy Suburban, Tahoe, GMC Yukon, Cadillac Escalade up another $1,600

The 2022 Chevrolet Tahoe and Suburban, the 2022 GMC Yukon and the 2022 Cadillac Escalade have all gone up by $1,600. The GM profit and loss department added $1,500 to the MSRP for each of the full-sized SUVs and $100 to their destination charges, that destination fee now $1,795 for each vehicle. It's not an inconsequential bump; however, considering where the trucks were priced at launch, and everything that's happened since, the latest retail prices don't seem that bad. Take the Suburban — in February 2020, Chevrolet practically carried over pricing for the truck with a revamped interior and independent rear suspension, starting it at $50,295 after destination. After this latest increase, the 2022 Tahoe LS in two-wheel drive costs $55,590, after destination.  The delta between the 2021 Suburban at launch in March 2020 and the current model is a little grander compared to the Tahoe, like the SUV itself. Back then, it started at $52,295, the same price as the outgoing model. After this third price increase in the past year, the 2022 Suburban LS in 2WD starts at $61,290 after destination. GM Authority says the 2023 Tahoe and Suburban are reportedly headed down production lines in the middle of July. The biggest addition to both models will be the availability of Super Cruise, which is already available on the sister SUV, the Cadillac Escalade. The hands-free driving assistance feature can only be optioned on the Premier and High Country trims. It costs $2,500 to put Super Cruise on the Escalade. GM hasn't divulged the feature's price yet for the Chevy twins; that's likely to come when the automaker announces 2023 Tahoe and Suburban MSRPs, so beware of more potential price increases. After that, there's a heavy refresh planned for the 2024 model year, including a new instrument panel design that looks like it replaces the current gauge cluster with a large, freestanding screen.  The Yukon's entry-level price goes up to $57,590 for the SLE trim turning the rear axle.   The Cadillac Escalade's second MSRP bump takes it to $81,235 for the Luxury 600 trim in 2WD, and $84,235 for the extended ESV model in the same trim. The price creep hasn't stopped Escalades from pulling off dealer lots almost as soon as they're delivered, sales for the first quarter of the year totaling 10,505 units, trouncing domestic and foreign competition. Related video:

2023 Detroit Auto Show Mega Photo Gallery: All the new reveals and first looks

The 2023 Detroit Auto Show didn’t play host to a lot of reveals, but on top of the new cars that were revealed there, automakers brought a whole bunch of cars we havenÂ’t seen in person yet. In a show of home strength, all the big reveals came from the hometown Big Three, with Ford, GM and Stellantis playing host to the most important unveilings. We took Huntington Place by storm to capture all of the new cars and sights to see in Detroit, and you can see everything we did in the series of galleries below. Interesting special editions like the 2024 Ford F-150 Lightning Platinum Black Edition and the 2024 Chevrolet Camaro CollectorÂ’s Edition found some floor space alongside bigger debuts like the refreshed gasoline-powered F-150 and 2024 Jeep Gladiator with its new interior. If you wanted to see it all yourself, make sure you check out our guide on how to attend the public show days. Scroll on down to see all of the galleries for all of the big Detroit debuts.   2024 Ford F-150 2024 Ford F-150 Tremor View 22 Photos   2024 GMC Acadia 2024 GMC Acadia AT4 View 17 Photos   2025 Cadillac CT5 2025 Cadillac CT5 View 15 Photos   2024 Jeep Gladiator 2024 Jeep Gladiator Live View 10 Photos   2025 Ford Mustang GTD Mustang GTD View 9 Photos   2024 Ford Mustang Mach-E Rally 2024 Ford Mustang Mach-E Rally View 10 Photos   Chevrolet Colorado ZR2 AEV Bison Chevrolet Colorado ZR2 AEV Bison View 6 Photos   2024 Ford F-150 Lightning Platinum Black 2024 Ford F-150 Lightning Platinum Black View 11 Photos   2024 Chevrolet Camaro CollectorÂ’s Edition ZL1 1LE 2024 Chevrolet Camaro Collector's Edition ZL1 1LE View 8 Photos   2024 GMC Sierra EV Denali 2024 GMC Sierra EV Denali View 8 Photos   Related video: Design/Style Green Detroit Auto Show Cadillac Chevrolet Ford GM GMC Jeep Technology Truck Coupe Crossover SUV Electric Hybrid Luxury Off-Road Vehicles Performance Sedan