2014 Chevrolet Malibu 2lt on 2040-cars

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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.

Chevy working on production Impala Midnight Edition

To put together the Impala Blackout concept for SEMA, Chevrolet didn't need to go much further than its accessories catalog. The in-house connection is what could make it possible for Chevy to get a production version of the Blackout into dealers this model year, with its few bits of chrome trim and dark detailing on the 19-inch aluminum wheels set into an abyss of gloss black paint, black Bowtie, grille surround, rear spoiler and mirror caps. The interior is black leather, with stainless steel for the sill plates and pedals, and an 11-speaker Bose audio system, and it gets the optional 305-horsepower, 3.6-liter V6. The brand's marketing director for cars and crossovers, Steve Majoros, told Edmunds that it could come in late spring, and that it will be called "Midnight Edition." Majoros didn't give any indication of pricing or if the production car will be spec'd out like the concept. If you simply don't want to wait for late spring, you could work your DIY mojo by putting one together the same way Chevrolet did: give the accessories catalog a workout. Related Video:

Chevy Silverado WT gets its own murdered-out trim pack

Media days for the 2015 Chicago Auto Show ended last week, but that hasn't stopped Chevrolet from adding just one more thing. The Bowtie brand showed off three new trim packages for its trucks in the Windy City – the Colorado GearOn and the Silverado Midnight and Custom – but protests from consumers over the price of these equipment packs has led the company to release a new trim group for its most affordable fullsizer, the Silverado WT. The $1,595 Black Out pack will be available on both the regular- and double-cab Silverado WT and offers a few simple, stylistic upgrades. Five-spoke, 20-inch black wheels are the headlining item, although Chevy will also include "deep tinted glass" and black bowtie badges both fore and aft. Available only in black (the company even paraphrases old Mr. Ford in its press release), the new package adds just enough to class up the otherwise dreary looking Work Truck. Chevy has only released one image for the time being, available up top. Dealers, meanwhile, are currently taking orders. Check below for the brief press release. Chevrolet Silverado Work Trucks Get Blacked Out DETROIT – Chevrolet is adding a $1,595 Black Out package for regular- and double-cab 2015 Silverado 1500 WT models. It includes 20" black painted aluminum wheels, P275/55R20 all-season blackwall tires, deep tinted glass and black bowties. Prices start at $28,895. The package is available for order now, and customers can have any color they want, as long as it is black. Editors' Note: Manufacturer's Suggested Retail Price excludes tax, title, license, dealer fees and optional equipment. Includes dealer freight charges and option package discounts. Founded in 1911 in Detroit, Chevrolet is now one of the world's largest car brands, doing business in more than 140 countries and selling more than 4.8 million cars and trucks a year. Chevrolet provides customers with fuel-efficient vehicles that feature engaging performance, design that makes the heart beat, passive & active safety features and easy-to-use technology, all at a value. More information on Chevrolet models can be found at www.chevrolet.com.