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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

Recharge Wrap-up: Chevy Spark EV in Canada, Audi to use Valeo electric supercharger

The Chevrolet Spark EV will become available to retail customers in Canada. "We're expanding our electric vehicle offerings to our customers by offering the 2016 Spark EV for retail sales in the growing EV markets here in Quebec as well as in Ontario and BC," says Chevrolet's Chris Hay. Chevrolet has not yet released pricing for the Spark EV in Canada. In the US, the Spark EV is available in California, Oregon and Maryland. Read more at Hybrid Cars. Four recreational vehicle companies in Texas have settled with the EPA over illegal import and sale of off-road vehicles. The 4,000-plus Hammerhead brand vehicles in question were imported without the proper certification, a violation of the Clean Air Act. Some vehicles lacked proper emission control equipment or were manufactured by a company not listed on the certificate application. The settlement totals $560,000 in civil penalties for the companies involved. Read more from the EPA. The Iowa Supreme Court has upheld the state's natural gas tax, which was challenged by the ethanol industry. Ethanol producers, which use natural gas to make ethanol, argued the complicated tax was unconstitutional, as it forced certain plants to pay more than their competitors. Taxes vary by location, and some plants have to tap into interstate pipelines at much higher tax rates rather than get it from a local utility. Now, ethanol producers will work to change the law. "My hope is that people understand that, something may be constitutional but that doesn't make it good public policy," says Iowa Renewable Fuels Association Executive Director Monte Shaw. Read more at Manufacturing.Net. Audi will use Valeo's electric superchargers to improve fuel economy and acceleration. Valeo says Audi will launch a vehicle using its electric supercharger next year, with other reports suggesting that car will be the Audi Q7. The company says other unspecified automakers will also use the technology in their vehicles. While the electric supercharger adds to the vehicle's cost and electric energy use, it can improve fuel economy by as much as 20 percent. Read more at Automotive News Europe. Featured Gallery Chevrolet Spark EV View 13 Photos Related Gallery 2016 Audi Q7: Detroit 2015 View 15 Photos News Source: Hybrid Cars, EPA, Manufacturing.Net, Automotive News EuropeImage Credit: Chevrolet Government/Legal Green Audi Chevrolet Alternative Fuels Emissions Ethanol Fuel Efficiency Electric Off-Road Vehicles recharge wrapup

Autoblog Podcast #376

Episode #376 of the Autoblog podcast is here, and this week, Dan Roth, Chris Paukert and Brandon Turkus talk about the New York Auto Show, internet criticism of the Ram Runner, and the 2014 Ward's 10 Best Interiors. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the new rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #376: The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics: New York Auto Show preview Ram Runner criticism Ward's 10 Best interiors for 2014 In the Autoblog Garage: 2014 Chevrolet Camaro 2SS 2014 Chevrolet Camaro 1SS 1LE 2014 Audi Q7 TDI Hosts: Dan Roth, Chris Paukert, Brandon Turkus Runtime: 01:37:18 Rundown: Intro and Garage - 00:00 New York Auto Show - 24:07 Ram Runner - 45:57 Ward's 10 Best Interiors - 57:00 Q&A - 01:14:02 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Auto News Podcasts New York Auto Show Audi Chevrolet Off-Road Vehicles chevy camaro 1le wards 10 best interiors