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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.

Jaguar XF S Sportbrake vs. Volvo V90 R-Design: A sporty wagon comparison

We had both a XF Sportbrake S and a V90 T6 AWD R-Design come through the office recently, and since they're really close competitors – both fairly large wagons, both luxury vehicles, both have sporting pretenses, and both feature all-wheel-drive. And in the case of our test cars, they're equipped very similarly, but at divergent price points. Is the Jaguar worth the premium? Let's take a closer look. The Jaguar is only available in the top-level S trim, which brings many features, as well as all-wheel-drive and a 380-horsepower supercharged 3.0-liter V6. The final price listed for our Jaguar was a heady $84,815, up from a base price of $71,445. That's thanks to a bunch of options: the $360 black trim package, the $565 metallic paint, the $1,020 20-inch wheels, the $3,495 driver assistance package, $3,265 technology package, $1,805 comfort and convenience package, and $2,860 premium interior package. View 22 Photos The Volvo is available in a variety of configurations. In fact, you can have a V90 R-Design for as little as $50,945, but you'll be making do with the front-wheel-drive T5 model that has just a 250-horsepower turbocharged four-cyinder. To match the Jaguar's feature set and to nearly match its performance, you need to go with the T6 with all-wheel-drive. In addition to powering all four wheels, it also adds the 316-horsepower twin-charged four-cylinder. The engine and drivetrain add about $6,000 to the T5's price tag. The rest of our V90's price increase was made up by a lot of options, including a Convenience Package for $1,900 that came with heated washer nozzles, a surround view camera, grocery bag holder, HomeLink, a compass, and automatic parallel parking. Other options included the upholstered instrument panel and sun shade for $1,150, metallic paint for $595, heads-up display for $900, built-in child seat for $500, carbon fiber trim for $800, Bowers and Wilkens sound system for $3,200, heated steering wheel for $300, rear air suspension for $1,200, 20-inch wheels with summer tires for $300, and the destination charge. All told, it cost $68,290, which is close to the base price of the Jaguar, but a whole lot less than the Jag's as-tested price, making the Volvo a great value. Interior and Technology But value isn't the only reason to buy a car, especially a luxury car. You want it to feel luxurious.

Volvo V70 and XC70 and Ocean Race special editions wash ashore ahead of Geneva

Volvo will unveil the third in its series of new concepts to the 2014 Geneva Motor Show, but it will also bring a flotilla of special editions to the Swiss show. The V70 and XC70 are getting limited-edition models called simply Edition, and the V40, V40 Cross Country, V60 and XC60 will have Volvo Ocean Race Editions.
The Edition models outfit the cars with an extra sprinkling of style. The V70 Edition gets high-gloss black trim on the grille, mirror caps, side window frames and tailgate and rides on silver, 17-inch wheels with high-gloss black 17-inch and 18-inch wheels as options. The XC70 Edition adds some gloss black exterior upgrades too, plus high-gloss black, 18-inch diamond-cut wheels. Both models are swathed in black leather upholstery with cream stitching.
The Volvo Ocean Race Editions celebrate the brand's sponsorship of a 38,739-nautical-mile yacht race that will circumnavigate the world from 2014 to 2015. All of them sport the race logo on the tread plates, front fenders, infotainment display on start-up and special seven-spoke wheels. Inside, there is the choice of black or blonde leather seats with orange stitching. The 60-series cars also sport a map of the race route on the rear load cover.