08 Silverado 2500 Lt 4wd Diesel Crewcab Longbed Nice Tx! on 2040-cars

Auto blog

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 Bolt EV, Chrysler Pacifica, Honda Ridgeline take 2017 NACTOY prizes

Every year the 2017 North American International Auto Show kicks off with the North American Car of the Year Awards. We say "awards" after all those mentions of our home continent because it's not just cars. This year, in fact, the awards spread out to three separate honors: Car, Truck, and Utility. And without further ado, here are the winners. The 2017 Chevrolet Bolt EV is the Car of the Year, the Honda Ridgeline is the Truck of the Year, and the Chrysler Pacifica is the Utility of the Year. Honda's win is perhaps the biggest surprise, upsetting favorite the Ford F Super Duty for the win. The second-generation Ridgeline rides on a unibody platform and is offered in front- or all-wheel-drive, which is unconventional for a pickup. But the layout also offers a cargo bed with an in-floor trunk and solid fuel economy figures of 19 city, 26 highway in its most-efficient form. The Chevy Bolt EV, however, was probably the easiest winner to predict. Its 238-mile range and sub-$30,000 starting price after tax credits make it a breakthrough in the landscape of electric vehicles. With the Chrysler Pacifica available in a plug-in hybrid form, this year's award illustrates the industry's shift towards efficiency and electrification. And with Ford's recent announcement on future EVs, it might not be long will it be until we see a hybrid truck on the award stage as well.Related Video:

2015 Chevrolet Corvette Z06 [w/videos]

I think I was supposed to be back hours ago. Driving northwest on State Road 190 with a final destination deep in the heart of the Death Valley National Park, it occurs to me that I might have agreed to return after an hour or so, instead of the four I'll end up stealing, solo, in the new Z06. Somewhere in the combination of mountain vistas, arching, speed-hungry desert roads, and the sound of this titanic engine on a constant run up the rev ladder, I forgot everything I'd promised back at home base. The generous, civilized part of me worries for a moment that absconding with the new-best Corvette might have left one of my fellow journalists without a car. But the selfish part of me – the part largely in control of the rocket-launcher of a throttle under my right foot ­– says "screw it." I spent two days with the 2015 Chevy Corvette Z06, a monster of a sports car that will soon be dominating track days everywhere, and I never once was inclined to share it. Hurtling through the shattered stillness of the desert and pulling big Gs at Spring Mountain circuit, I never felt overly disposed to give up my seat. This Corvette, more than any I've yet driven, was deep enough to hold my attention; for two days, for two years, probably. With this Z06, the Corvette steps over the amazing-for-the-price category, and solidly into the best-cars-in-the-world zone. There are peripheral elements that remind me of its blue collar, Bowtie heritage, sure, but there's more that simply begs me to carry on driving... faster. Most casual car observers will be able to pick the 2015 Z06 out from its less aggressive Stingray brothers. Subtler hints include a new, more open grille, larger extractor on the taller hood and rather discreet badges on the flanks of the car. More outrageous is the finned spoiler on the rear trunk lid, and the widebody look offered from flared fenders – an extra 1.57 inches (40 millimeters) at their beefiest point. Even driving around performance-car-laden Pahrump, NV – loaded thanks to the very active community at the Spring Mountain racing resort – members of the local populace were turning heads, waving and generally noting the Z06 with approval when I drove through town. In Torch Red over black painted aluminum wheels, staggered at 19-inches in front and 20 at the back, the amped-up Z06 hits a new level of road presence for the C7.