Ford Explorer 2000, One Family Owner, No Reserve 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.

2013 Ford Explorer Sport

When one speaks of sporty and fun-to-drive utility vehicles, few would put the Ford Explorer in the same category as the Jeep Grand Cherokee SRT8, BMW X5 or Porsche Cayenne. Yet, with just a few reservations, I'd toss the new-for-2013 Ford Explorer Sport close to that arena for consideration.
As a recap, the sportiest of Explorers is fitted with Ford's twin-turbocharged 3.5-liter Ecoboost V6, making 365 horsepower and 350 pound feet of torque. Acceleration is brisk (figure about 7 seconds to 60 miles per hour), as power goes to all four wheels through a six-speed automatic transmission. Contributing to its more athletic demeanor are larger front brakes, a sport-tuned suspension, chassis upgrades, quicker steering ratio and a more aggressive wheel/tire package. Cosmetically, the Sport is distinguished by its blacked-out lights, black trim and noticeable lack of chrome (with the exception of the door handles).
Ford recently handed me the keys to a Ruby Red Metallic Explorer Sport. Rather than mindlessly drive the big seven-passenger all-wheel drive hauler in soccer mom circles around Los Angeles, I loaded up my family and embarked on a long weekend road trip to Yosemite National Park.

Total auto recalls already on record pace in 2014

If you've noticed that there have been more recalls than usual this year, you may be on to something. According to a report from the National Highway Traffic Safety Administration, the US market is on pace to break a record for recalls. In 2013, 22 million cars were recalled. We're only a third of the way through 2014, though, and we've already halved that figure, with 11 million units recalled. That's wild.
Considering the past few months, it shouldn't be a surprise that General Motors is leading the charge, with six million of the 11 million units recalled coming from one of the General's four brands. Between truck recalls, CUV recalls and the ignition switch recall, 2014 hasn't been a great year for GM.
Other recall leaders include Nissan (one million Sentra and Altima sedans), Honda (900,000 Odyssey minivans), Toyota (over one million units in a few recalls), Volkswagen (150,000 Passat sedans), Chrysler (644,000 Dodge Durango and Jeep Grand Cherokee SUVs) and most recently, Ford (434,000 units, the bulk of which were early Ford Escape CUVs). So while it's been a bad year for GM so far, its competitors aren't doing too well, either.