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New auto loans could soon extend out to 84 months

Cars and trucks are more expensive than ever before. In order to boost sales and help consumers afford new vehicles, automakers are offering longer and longer terms for auto loans. This past week, Bloomberg reported that FCA's Ram Trucks division is currently offering the longest loans. Some stretch to 73 months. Jeep, Fiat and Chevy aren't far behind. More noteworthy is that we'll likely soon see lenders moving from 73-month to 84-month loans. That's seven years worth of interest. More than two-thirds of US auto sales come from light trucks like the Ford F-150, Chevy Silverado and Ram 1500. The average transaction price of a new vehicle is well over $30,000. It's not difficult to spec out a heavily-optioned truck up to $60,000. Vehicles depreciate from the moment they roll off a dealer lot, and these six or seven-year loans could hurt consumers and lenders both in the long run. The U.S. Senate voted last week to kill rules that would prevent discriminatory auto lending. These Obama-era guidelines were meant to curtail lenders who offered higher loans based on race, religion, sex or national origin. Related Video: News Source: Bloomberg Chevrolet Fiat RAM Car Buying car loan car values

Next-gen GM SUVs caught wearing new boxy bodies [w/video]

We recently drove the brand-new 2014 Chevrolet Silverado and found it to be vastly improved compared to the outgoing model. And now that The General's pickup trucks have been squared away, it's time to focus our attention onto their passenger-friendly companions, the Chevrolet Tahoe and GMC Yukon (above).
Our spy photographers have passed along a huge smattering of photos (and a video), showing the new SUVs out testing. Both the short- and long-wheelbase models were spied, and while the overall shape of the vehicles hasn't changed all that much, we expect the updates to be substantial. In addition to new powertrain options, like GM's new small-block V8, we expect the interiors of both SUVs to get massive makeovers, providing better materials throughout their cabins and quieter, more refined environments. We even hear that some trick new suspension developments may be in store for upper-end models.
Visually, these spy shots allow us to see a couple of new details on the SUVs' front and rear fascias, including LED running lamps on the Yukon and some interesting LED taillamp treatments. Of course, the obvious third party missing from this set of photos is the Cadillac Escalade, but as we reported earlier, GM is working to further differentiate the 'Slade from the rest of the fullsize SUV lineup, and is working to make the new model "much less ostentatious."

Just the right Camaro can change your life

Not many people can say that their car directly motivated them into a career, but that's exactly the case for Adam Martin and his 1968 Chevrolet Camaro that he calls Lucy. Martin bought the pony car in primer when he was just 16, and it helped foster his profession in restoring classic cars. Beyond just being a very cool ride for a teenager, every change to Lucy was an opportunity to hone a new automotive skill for Martin. Whether figuring out how to paint a car or building the 454-cubic-inch (7.4-liter) big block V8, the Camaro offered a platform for experimentation. This latest episode of Petrolicious gets personal about the bond between man and machine for this 18-year ongoing project. And even if the story doesn't immediately grab you, Lucy has a great voice and can do a mean burnout. News Source: Petrolicious via YouTube Chevrolet Maintenance Ownership Coupe Performance Classics Videos petrolicious