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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.

From Expedition to Navigator: our predictions for Lincoln's SUV

In the midst of all the buzz surrounding the new aluminum Ford Expedition and Expedition Max, we remembered the other large SUV the Ford Motor Company showed last year, the Lincoln Navigator concept. And since the Navigator has historically been built on the Expedition platform, we figured there's no better time to focus some of our predictions for the big Lincoln. First off, let's take a look at design. Having seen the new Expedition, we're fairly confident that the Navigator will look almost exactly like its concept. The strong similarities between two mean the Expedition serves as a preview of what a production Navigator will look like. For example, both vehicles' greenhouses we can see that the shape of the C-pillars are nearly identical. The only difference is that the Expedition's are painted body color, while the Navigator's are painted black. Additionally, the character line running along the top of the doors on both vehicles is roughly the same height. The same goes for the more subtle crease near the bottom of the doors. We also see no reason why Lincoln wouldn't use the full width taillights, fender vent, and grille treatment it used on the concept. Those are all easy design changes to create differentiation, and they're all right inline with the cues set by the Continental. View 15 Photos For powertrain, we're pretty certain the 400-horsepower 3.5-liter EcoBoost V6 previewed on the concept is a certainty now. The Expedition and Expedition Max will be offered with a 3.5-liter EcoBoost as well, so we know it will fit. We expect the Expedition's engine will produce 375 horsepower and 470 lb-ft of torque as it does in the F-150. That's less power than the Navigator concept, but it would be reasonable to make the production Navigator a bit more powerful than its lowly Ford brethren to help justify the increased price tag. Towing capacity will probably be about the same between the Ford and Lincoln, which should be something over 9,000 pounds. The Navigator will probably use the same two-wheel-drive and all-wheel-drive drivetrains, too. Inside is where the Expedition and Navigator will likely differ the most, particularly in seating. The Expedition offers seating for up to eight with an available second-row bench seat, and the Navigator concept had captain's chairs for every row. We're expecting the Navigator will only offer second-row captain's chairs since the cramped third row would be a waste of nice buckets.

Weekly Recap: Matthew McConaughey's star shines brightly for Lincoln

The commercials were a little strange at first, but the ensuing spoofs were hilarious. And all jokes aside, Matthew McConaughey has made a difference for Lincoln. Advertisements starring the Oscar winner launched in September, and the results have been impressive. The number of customers clicking on Lincoln.com to check out the MKC – the crossover McConaughey pitched – has tripled since the ads began airing, a spokesman told Autoblog. They also generated 4.4 million views on YouTube and spawned parodies by Ellen DeGeneres, Conan O'Brien, South Park and Jim Carrey on Saturday Night Live, which racked up another 15 million views. Most importantly, Lincoln's sales have increased 15 percent through November, helped significantly by the strong launch of the MKC. Without the addition of the MKC, Lincoln's sales would have been essentially flat last year. The MKC has received solid reviews from consumers and the press, though it has had several recalls. "The overwhelming response to the MKC campaign sparked truly great awareness for Lincoln," Andrew Frick, Lincoln group marketing manager, said in a statement. Now Lincoln has launched another round of spots, which kicked off New Year's Day during college football bowl games. This time, McConaughey is hawking the MKZ sedan and its hybrid sibling. The spots, called Diner and Balance, use the same artistic formula as the earlier ads, with McConaughey intoning seriously about the cars in dramatic settings. They were shot over two days in Los Angeles and were directed by Nicolas Winding Refn, a Danish filmmaker who directed the 2011 move, Drive. The ads continue Lincoln's multiyear deal with McConaughey, who has said he's been long been interested in the brand. He starred in the 2011 thriller, The Lincoln Lawyer, as a defense attorney who worked out of a Town Car, though that was before his deal with Lincoln. In one of the earlier ads, McConaughey claims: "I've been driving a Lincoln since long before anybody paid me to drive one. I didn't do it to be cool. I didn't to it to make a statement. I just liked it." That sentiment appears to have worked for the MKC's launch, and with this new advertising blitz, Lincoln hopes it carries over to the MKZ. Other News And Notes Infiniti Q30 spied in winter testing Infiniti is continuing development work on the Q30 small crossover, and we've recently captured it during winter testing.