2014 Ford Fiesta Se 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.

Ford reflects on radical Mustang concept that never reached showrooms

The Ford Mustang that we all know and love made major waves in the auto industry way back in 1964 by offering style and reasonable pricing with optional V8 power. Its long hood and short rear deck, combined with a low-slung and sporty cockpit, made a lasting impression in the minds of consumers and car designers alike, and its basic shape has so endured the test of time that it's still in use today.
This being the case, you may be interested to know that the first Mustang of 1964.5 wasn't actually the first Mustang at all, being preceded by a concept car that made its public debut in 1962. This concept was nothing like the car that would eventually make it into production, with a radical wedge shape and a small V4 engine sitting behind the car's two occupants, driving the rear wheels. In other words, the conceptual Mustang was pretty much the complete opposite of the production Mustang besides the name.
Ford has kindly decided go through its massive archive to bring the original Mustang concept back into the public eye. The company goes so far as to pose this question to fans of the pony car: "Should we borrow a few of these style elements for the next iteration of the Mustang?" Check out our image gallery above and then let 'em know what you think in the Comments below.

2015 Galpin Ford GTR1

Last year in Monterey, we met GTR1 for the first time. Galpin Auto Sports pulled the wraps off its Ford GT-based supercar, powered by a twin-turbocharged 5.4-liter V8 good for a whopping 1,024 horsepower and 739 pound-feet of torque. The thing was totally custom-made and reportedly took some 12,000 man hours to create. And there it sat on the Pebble Beach grass, $1,000,000-plus price tag and all.
This year, the Galpin was back, albeit with one big change. That twin-turbo engine? Gone. In its place, a 5.4-liter V8 with a 4.0-liter Whipple supercharger bolted on, delivering an astonishing 1,058 hp and 992 lb-ft of torque on 110-octane fuel. 0-60? 2.9 seconds. Top speed? Somewhere above 225 miles per hour.
"Some things to keep in mind: no stability control, no traction control," were the only warnings given by Galpin's Brandon Boeckmann before taking me on a quick spin in the supercar. And after having my eyes thrown into the back of my skull a few times, laughing hysterically and trying to regain full use of my hearing after my ear drums being bombarded by the apocalyptic roar behind me, Brandon pulled over and said it was my turn, if I was ready to take the wheel.