2008 Volvo 4dr Suv Fwd At Sr 7s on 2040-cars

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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.

2015 Volvo Inscription models get classy with an upgraded leather interior

If Volvo's recent spate of cool-looking concepts is any indication, the Swedish brand has some great new styling on the way. But it takes time for new vehicles to come to market. In the meantime, Volvo is livening up some of its interiors with an updated Inscription Package on the 2015 XC60 (pictured above) and S80 debuting at the 2014 New York Auto Show.
The Inscription models see mostly interior improvements with Sovereign Hide leather covering the seats and more leather for the instrument panels, seatbacks, center armrests and embroidered headrests. Inlaid wood acts as decorative trim, and there are plush, new floor mats. Exterior changes are limited to the choice of colors, namely Crystal White Pearl, Electric Silver and - exclusively for the S80 - Ember Black. The XC60 Inscription comes with 20-inch, ten-spoke wheels, and the S80 receives 19-inch versions.
The package's changes are fairly small, but it adds a certain amount of opulence to the models until the new Volvos are ready. Scroll down to read the full details about them.

Celebrate Volvo's 89th birthday with some neat facts

Volvo, arguably Sweden's best-known non-ABBA export, will celebrate the big 9-0 next year. The company has always operated somewhat under the radar, but it has its share of stories to tell despite an image formed by decades of solid, safe, and sensible cars. To celebrate the occasion, here are five lesser-known facts about Sweden's last remaining car brand. 1. It opened North America's first foreign car plant. Idyllic Halifax was a small fishing city of about a quarter-million in the early 1960s when Volvo arrived and became the first import brand to build cars en masse in North America. American consumers on the East Coast developed a fondness for the Volvo Amazon line in the late 1950s, leading Volvo to seek out a plant in the Americas. Halifax ponied up incentives, allowing Volvo to take advantage of a pact eliminating tariffs on cars built and exported between the United States and Canada. Volvo built cars there until the end of 1998, when it said its facility was no longer viable compared to larger factories in Europe. That brings us to The Netherlands, where Volvo bought a quirky, innovative automaker that once sold a car called the Daffodil (which was actually its luxury model). 2. You can thank Volvo for CVTs – even though it doesn't use them. Volvo wasn't interested in picking flowers. It wanted the automotive arm of truck manufacturer DAF, which would include its assembly plant, its Renault engines, and the first mainstream application of the CVT gearbox. Volvo acquired DAF's car business over the course of a few years in the early 1970s and, in typical Volvo safety-oriented style, it slapped big bumpers and head restraints on the little DAF 66 and rebadged it as the Volvo 66. The Dutch assembly plant would grow to include a partnership with Mitsubishi in the early '90s. Today, it operates as NedCar and builds Mini Coopers for BMW. Volvo is no longer involved in NedCar or DAF (which sold its CVT division to Bosch, by the way), but its acquisition of DAF helped ensure the success of CVTs. Ironically, even though Volvo's investment helped make CVTs mainstream, the Swedish automaker's affair with them was brief, and today it utilizes only conventional automatics. 3. The Swedish carmakers were pals. Over its 89 years, Volvo has been closely connected to a number of automakers – most notably Ford, which ran the company for a decade, and its current owner Geely. But Volvo is most closely linked to its longtime competitor, Saab.