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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.

Next-gen Toyota Prius spied inside and out

Toyota has built itself into the industry's standard-bearer when it comes to hybrids, and it isn't going to let the poster child for gas-electric vehicles get stale on the market. These spy shots captured in California are our first good look at the next-generation Prius, which could come to market wearing a 2015 model year designation.
Even though it looks like Toyota may have blown its annual camouflage budget on this mule, we can clearly see that it will have the same iconic half-moon design that has been with the car since 2003. If so, this goes against reports from last year that suggested the car would be getting a different look inspired by the 2013 NS4 Concept. Although, this could also indicate that the Prius family will continue to grow - adding a new sedan - to the existing Prius C, Prius V and Prius Plug-In lineup.
These spy shots also give us an indication as to what the interior will look like, with a more stylish three-spoke steering wheel and an instrument panel design that sort of reminds us of a BMW. On the other hand, all the tape, cobbled together pieces and lack of space for a center stack display screen has us thinking this isn't what the final product will resemble.

Scion testing updated FR-S

It looks like Toyota is preparing a mid-cycle update for its critically acclaimed GT86, known here in the US as the Scion FR-S or Subaru BRZ. As far as updates go, this one looks to be rather average. Hidden behind the camouflaged front and rear ends, we have new headlights and taillights, which according to our spies looked to be of the LED variety. We wouldn't be shocked to see the GT86 get LED taillights, although fitting the top-of-the-line headlights seems less likely. Supporting that position are the images we have of the actual headlights in action, which don't look quite bright enough to be full LED units. Instead, we'd expect some new form of running light, perhaps with bi-xenon low beams. Aside from the lamps, the front bumper gets a larger, more prominent lower intake, while the rear end sports a redefined bumper that houses larger dual exhaust tips. The size of the spoiler has been increased, too. According to our spies, we should also expect powertrain enhancements – which we can only hope means more power – as well as upgrades to the interior of the GT86. While it's possible that the updates being tested in Germany could be exclusive to the European market, that seems unlikely. We'd expect the same new enhancements to at least find their way to the Scion, if not its Subaru-badged twin. Check out the full battery of spy photos up top. Related Video: