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Auto blog

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

MotorWeek's 80's GM muscle coupe roundup includes Regal GN and Monte Carlo SS

Even with just four brands in the family, General Motors still represents a performance powerhouse. Between the Chevrolet Corvette Z06, Camaro Z/28, Cadillac CTS-V and ATS-V, The General can still deliver plenty of thrills. The 1980s, though, saw the brand go even crazier with performance. While the Camaro and Corvette were still around back in the day, GM had a number of other interesting performance offerings. The Bowtie was complemented by the long-deceased Monte Carlo SS, while the now-defunct Pontiac and Oldsmobile offered the Grand Prix and thumping 442, respectively. And Buick, which isn't short on performance with its Regal GS and Verano Turbo, offered a much more serious vehicle, in the form of the Grand National (not to mention the Darth Vader-spec GNX). MotorWeek, in its hugely entertaining retro flashbacks, looks back on these three long-lost GM performance icons, and it's just as good as you might expect. News Source: MotorWeek via YouTube Buick Chevrolet GM Pontiac Coupe Performance Classics Videos buick grand national chevy monte carlo oldsmobile 442

GM sweetens military discount for Buick, Chevy and GMC

American servicemen and women interested in a new vehicle from Chevrolet, Buick or GMC now have a bit more incentive to head down to their local dealer, as General Motors has announced plans to improve its military discount program.
The new GM Military Discount Program offers eligible consumers a new Chevy, Buick or GMC at invoice pricing, which in some cases can take very large chunks out of a car's retail price. When factored in with other incentives, most of which are available with the Military Discount, the bargains are thick on the ground for members of the US armed forces.
GM's Retail Sales and Marketing Support general manager, Chuck Thomson, said, "GM has long supported the military and military families, and we hope this simplified and enhanced discount will show our appreciation for their service and help make it easier for them to own one of our great new vehicles." The program is open to all active duty and reserve members in the Army, Navy, Marines, Air Force, National Guard and Coast Guard, as well as veterans that have been out of the service for less than a year. Military retirees and their spouses are also eligible for the discount.