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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.

GM 6.2L V8 claims most powerful light-duty truck engine title

General Motors has officially captured the horsepower crown for mainstream pickup trucks with its 6.2-liter V8. The big mill, available in both the Chevrolet Silverado and GMC Sierra, comes to market with 420 horsepower and 460 pound-feet of torque, handily outdoing its two cross-town competitors, Ram (5.7-liter V8, 395 ponies and 407 lb-ft) and Ford (6.2-liter V8, 411 hp and 434 lb-ft).
The new GM 6.2 will take a bit of an investment, though. Those that want the extra thrust will need to go with either the LTZ or High Country trims from the Chevy, or the SLT and Denali trims from GMC, which are the two highest trim levels for the respective vehicles. Trim levels aside, if you're in the business of towing, GM has you covered. Optioned with the 6.2-liter V8 and the Max Trailering Package, owners will be able to pull 12,000 pounds, a hugely impressive figure.
We still aren't certain as to what sort of economy the new engine will get, but it'll probably be a bad bet for the fuel conscious. As for availability, expect to see the 6.2-liter trucks in showrooms later in the fall.

Ford Police Interceptors dominate Michigan State Police testing

Once again, Ford Motor Company builds the fastest police vehicles. The Blue Oval touted the news in an official release following Michigan State Police and Los Angeles County Sheriff's Department testing. Ford did very well. Except for one acceleration metric – zero to 10 miles per hour – the Blue Oval's Taurus and Explorer-based cop cars were the quickest, with particular praise coming for the EcoBoost-powered models, which bested Chevrolet and Dodge's V8-powered variants. Dearborn's products also posted the fastest average times around MSP's vehicle dynamics course. But it wasn't all positive for Ford. The only four-cylinder in the contest, the 2.0-liter, EcoBoost Ford SSP Sedan, had both the lowest top speed, 120 mph, and the slowest acceleration figures. It was also the slowest in track testing. Ford's products also failed to match the braking and top speeds of its rivals from Detroit and Auburn Hills – the rear-drive Charger Pursuit posted the best braking stats of the entire test, while the V8-powered Chevrolet Caprice hit the highest top speed, at 155 mph. Ford did score a top speed award, among SUVs, but at 132 mph, the naturally aspirated Police Interceptor Utility had to share its award with the equally fast, rear-drive Chevrolet Tahoe. The LA County Sheriff's timing isn't publicly available, but according to Ford, the EcoBoost-powered police cars put on a similarly impressive show for cops on the West Coast. We've assembled a spreadsheet on Google Docs that offers an easy to browse comparison of the different stats assembled by the Michigan State Police, and divided the vehicles between standard V6-powered sedans, high-performance sedans (EcoBoost and V8 models), and SUVs. You can check it out here. Related Video: