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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

Here's why automakers roll out those Texas-themed pickup trucks

Every year, automakers with a full-size truck link make a big show of the Texas State Fair, usually involving a reveal of a new model. Sometimes they show a whole new truck, and other times a special edition centered on the Lone Star state. While some people might write this off as a quirk of the industry, others might be wondering, "What's the big deal with Texas?" As it turns out, part of the big deal with Texas is big truck sales. According to Dave Sullivan, product analysis manager at AutoPacific, Texas buys more trucks than any other state in the country. It's not a small margin either. Edmunds.com, one in five trucks sold in the US are sold in Texas. The state also accounts for 15 percent of the country's large truck sales, which is more than twice that of California, the second largest truck market in America. Even when you break down sales only in Texas, trucks are a huge piece of the pie - Sullivan says that a quarter of new vehicle sales in Texas are trucks. One in five trucks sold in the US are sold in Texas. But it's not just sales that make truck builders give attention to Texas. As Sullivan explained, "Pickups are life in Texas." Both he and Hugh Milne, marketing and advertising manager for the Chevy Silverado line, said that trucks are key fixtures in Texas society, as both work trucks and luxury vehicles (or Texas Cadillacs as Milne called them). Milne said Texas is so important in the truck market that if you want to be successful in the rest of the country, "you've got to be successful in Texas." As for the State Fair, it has become a prime location for reveals in part because of the importance of the Texas market and because of how big the fair is. Milne also revealed that the State Fair also hosts its own auto show, so it's an ideal venue for a vehicle introduction. So there you have it. Why do truck builders obsess over Texas? It's because Texas obsesses over trucks. When you have one market that loves your product that much, you give it the attention it deserves. Related Video: Image Credit: Donovan Reese via Getty Images Auto News Marketing/Advertising Chevrolet Ford RAM Truck f-150 texas state fair

Ram considering Rumble Bee concept for production

Yellow truck enthusiasts, take note - Ram is considering production for its Rumble Bee Concept, a very, very extroverted pickup that debuted at the 2013 Woodward Dream Cruise. Drawing inspiration from the last Ram Rumble Bee, which in turn borrowed heavily from the Dodge Super Bee muscle cars of the 1960s, the Rumble Bee sports a few things that set it apart from the standard 1500 lineup.
The most obvious change is its retina-scorching, matte yellow paint. Teamed up with a two-inch suspension drop and monster 24-inch black wheels wrapped in low-profile tires, the Rumble Bee cuts an imposing figure. Matching that aggressive exterior is a 5.7-liter Hemi V8, complete with 395 horsepower and an exhaust system that can go from raucous and muscle-car-like to the full-on NASCAR at the push of a button.
According to Edmunds, after a positive reception at the Dream Cruise, the Auburn Hills automaker is now presenting the truck to dealers in a bid to gauge interest. "We try to listen to the dealers. They know their marketplace," Ram's Dave Sowers tells Edmunds, adding that Ram could produce the new truck.