1977 Chevy Elcamino on 2040-cars

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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

Evatran, Bosch will sell wireless home charger for as low as $1,998*

At the Consumer Electronics Show in Las Vegas today, the big news for plug in vehicles is that they can now start to ditch the plug. As expected, the system costs around $3,000 and is available for both the Nissan Leaf and the Chevrolet Volt. For the first 250 customers, though, Evatran is offering $1,000 off the standard price, a 30 percent discount. Deliveries start next month and Evatran says it expects the discounted units to all be snatched up in the first half of the year. The wireless charger charges as quickly as conventional corded systems. Called the Plugless Wireless EV charger, the 240-volt station will be installed by Bosch and needs a specific adapter to be used with the Volt or the Leaf (the Leaf version costs $100 more). So, any two-EV families out there will need to pony up double if there's a Chevy and a Nissan in the garage. Of course, since the Plugless system only works with older Leafs (2010-2012 model years - but with any Volt), any late adopters will not be able to take advantage of the new technology, for now. Evatran says the wireless charger "charges the Volt and Leaf as quickly as conventional corded systems and all vehicle features, such as charge-timers and phone applications, can be used seamlessly with the Plugless system." After the first 250 units, standard prices for the wireless chargers take effect again: $2,998 (Volt) and $3,098 (Leaf). Evatran says it will announce wireless chargers for additional vehicles and model years later this year. Evatran and Bosch offer Promotional Pricing as low as $1,998 to first 250 PLUGLESS™ Wireless EV Charging Customers LAS VEGAS, Jan. 6, 2014 /PRNewswire/ -- Evatran Group, Inc. ("Evatran"), in partnership with Bosch Automotive Service Solutions, announced today at the 2014 Consumer Electronics Show that it is offering reduced promotional pricing to the first 250 customers who opt to Go PLUGLESS with their electric vehicle ("EV") experience. The PLUGLESS system offers a convenient, wireless charging alternative to the repetitive process of unplugging and plugging-in electric vehicles. The reduced pricing includes all charging hardware and is as much as a 30% discount off the system's standard MSRP. The discount is available only to the first 250 customers. Initial shipments of the PLUGLESS system, the first wireless EV charging product in the world available to individual EV drivers, will begin in February 2014.

Recharge Wrap-up: Ford HQ gets giant solar array, Chevy City Express gets 24 MPG city

Ford will be building Michigan's largest solar array at its Dearborn headquarters. With funding from DTE Energy, the solar carport will provide covered parking, as well 30 charging stations for electric vehicles. The array is expected to generate 1.13 million kWh per year for Ford's operations, and offset 794 metric tons of carbon emissions. Read more in the press release below. Chevrolet announced the fuel economy for the 2015 City Express, at 25 mpg combined. The cargo van is rated at 24 mpg in the city, and 26 mpg on the highway. Chevy credits the van's inline four-cylinder engine and continuously variable transmission for its impressive city mileage. For its customers - which are mainly businesses - "The fuel economy of the City Express will help stretch their dollar at the pump and give them the flexibility to invest the savings back into their business," says Chevrolet's Ed Peper. The City Express starts at $22,950. Read more in the press release below. Engineers at the University of Wisconsin have developed an efficient engine that runs on a diesel-gas blend. The engine, which uses a computer to control the blend proportions, is about 15 percent more efficient than the any diesel engine according to mechanical engineering professor Rolf Reitz. The team has put the experimental reactivity controlled compression ignition (RCCI) engine in a demonstration car - a 2009 Saturn. "This vehicle can do 50 miles per gallon," says Reitz, who believes the system could be improved further. Read more at Wisconsin Public Radio. The Southeast Alternative Fuel Conference and Expo will take place in October in Raleigh, North Carolina. Held at the NC Clean Energy Technology Center from October 22-24, the event will feature a variety of exhibitors, speakers and, most importantly, alternatively powered vehicles. "The three day conference will be a one-stop shop for fleet and transportation related decision makers to learn about return on investment, efficiency and alternative transportation fuels such as biodiesel, electricity, ethanol, propane and natural gas," says Anne Tazewell of the NC Clean Energy Technology Center. If you can't make it to Raleigh for the Expo, you can still enter to win a free two-year lease of a Nissan Leaf at the Center's website. Learn more about the event in the press release, below.