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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.

Poor headlights cause 40 cars to miss IIHS Top Safety Pick rating

Over the past few months, we've noticed a number of cars and SUVs that have come incredibly close to earning one of the IIHS's highest accolades, the Top Safety Pick rating. They have great crash test scores and solid automatic emergency braking and forward collision warning systems. What trips them up is headlights. That got us wondering, how many vehicles are there that are coming up short because they don't have headlights that meet the organization's criteria for an "Acceptable" or "Good" rating. This is a revision made after 2017, a year in which headlights weren't factored in for this specific award. This is also why why some vehicles, such as the Ford F-150, might have had the award last year, but have lost it for this year. We reached out to someone at IIHS to find out. He responded with the following car models. Depending on how you count, a whopping 40 models crash well enough to receive the rating, but don't get it because their headlights are either "Poor" or "Marginal." We say depending on how you count because the IIHS actual counts truck body styles differently, and the Infiniti Q70 is a special case. Apparently the version of the Q70 that has good headlights doesn't have adequate forward collision prevention technology. And the one that has good forward collision tech doesn't have good enough headlights. We've provided the entire list of vehicles below in alphabetical order. Interestingly, it seems the Volkswagen Group is having the most difficulty providing good headlights with its otherwise safe cars. It had the most models on the list at 9 split between Audi and Volkswagen. GM is next in line with 7 models. It is worth noting again that though these vehicles have subpar headlights and don't quite earn Top Safety Pick awards, that doesn't mean they're unsafe. They all score well enough in crash testing and forward collision prevention that they would get the coveted award if the lights were better.

2015 Chevy Impala Bi-fuel burns CNG, starts at $37,385*

Currently, the only natural-gas-powered passenger car offered for sale by an OEM in the US is the Honda Civic Natural Gas. Starting this fall, that long-running CNG car will be joined by a CNG-burning 2015 Chevy Impala for both fleet and retail customers. General Motors announced today that the car will start at $37,385, plus an $825 destination charge. That comes to $38,210 before taxes and options. Those options include two trim lines, the base LS and the upper-level LT. Chevy doesn't break out the details in the press release announcing the price, but you can see the trim details for the standard gas-powered 2014 Impala here. Exact information on the 2015 models is not available just yet, but GM spokesman Chad Lyons told AutoblogGreen that the equipment that you see listed on the site for 2014 is "almost exactly the same" as what will be available for 2015. The 2015 Impala gets around 19 city mpg on CNG, but official EPA numbers are not yet available. That means the LS will come with 18-inch aluminum wheels, electric variable-assist power steering, projector-beam headlamps, and 10 air bags. The LT adds an eight-inch touch screen with MyLink, premium Cloth interior and dual-zone automatic climate controls. The cost for this upgrade is unspecified. For CNG purposes, we can ignore the numerical prefix used for the gas-powered LT trims, since that denominates the engine type, and all the CNG models use a 3.6-liter engine with hardened valves and valve seats that can better handle natural gas. The trunk capacity also drops from 18.8 cubic feet to 10 cu .ft. in order to fit in the CNG tank that holds the equivalent of 7.8 gallons of gas. That amount of CNG should move you 150 city miles, which is around 19 mpg, but official EPA numbers are not yet available. With the addition of the gasoline on board, the overall range is 500 city miles. The car burns CNG when available and switches to gas with "no interruption" either when the tank is empty or when the driver selects the gas tank. Find more details in the press release below. GM says the CNG Impala will will be available nationwide this fall. CNG is a growing fuel in the US, thanks in part to fracking. The Civic Natural Gas, which starts at $26,640, is growing towards a nationwide availability. Next year, for example, the Shell Eco-marathon Americas in Detroit will allow CNG for the first time. Chevrolet Announces Pricing of CNG-Capable 2015 Impala 2014-05-06 LONG BEACH, Calif.