2003 Volvo Xc70 Awd Cross Country Leather Sunroof Clean Xc 70 Wagon 3rd Row 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.

Your guide to vehicle subscription services

They might be extremely limited in scope because of location availability, but vehicle subscription services are a growing trend that most luxury manufacturers are jumping on. Plans are expensive, but you're paying for much more than just the car typically. We highlighted four of the larger plans with a few more listed at the end. Care by Volvo Volvo launched its subscription service last year with its brand-new XC40. It was the only vehicle available for a time, but subscribers can now get an S60 sedan as well. Subscriptions are for two years, with the monthly price including insurance, a concierge service, wear-and-tear item replacements and all maintenance. You'll be able to drive 15,000 miles per year with whichever Volvo you choose, and although there are no options to extend that mileage, you can swap cars after a year. Pricing for the XC40 is $650 per month in base trim, while an S60 can be as expensive as $850 for the R-Design. Volvo's plan is to offer more cars soon through the service, but it's relatively limited compared to others right now. Porsche Passport Porsche has two levels in its subscription service: Launch and Accelerate. Launch will cost $2,000 per month and give you access to the Cayman, Boxster, Macan and Cayenne. All of those but the Cayenne can be had in "S" trim as well. Accelerate is where the fun really starts. For $3,000 per month you can choose from a fleet of 911s, including the S, 4S, Cabriolet and Cabriolet S. If those aren't enough, you can also get the Panamera 4S, Macan GTS and Cayenne S. There are no mileage limits and you can change vehicles as often as you'd like. Also included in the price is insurance, repairs, detailing and any maintenance. It might be extremely expensive and limited to Atlanta only, but this subscription service is second-to-none for what you get. Audi Select Audi just launched its subscription car service, and it's offered in one version for a flat fee of $1,395 per month. For that you'll have access to five different cars including the A4, S5 Coupe, A5 Cabriolet, Q5, and Q7. Not a bad range of vehicles, but it would've been neat to see the recently updated A7 in there too. Maybe in time. Like the others, insurance and maintenance are wrapped up in the price. Audi is allowing for unlimited miles and two car swaps per month here. In addition to that, you'll get two days of free rentals through Audi's Silvercar rental agency should you go on a trip.

Volvo Concept Coupe is a long-legged Swedish GT [w/video]

They may not be the first thing that comes to mind when you think of the marque, but Volvo has a long and surprisingly lustrous lineage of coupes in its stable, from the P1800 to the 142 to the Bertone 262C to the 780 Bertone and the recently departed C70. Few of those two-doors have stood the test of time the way the voluptuous P1800 has, a fact the company's designers are apparently keenly aware of. It is that exact model that Volvo says they've drawn upon for this new Concept Coupe, and while the showcar bears little resemblance to the smaller P1800 that inspired it, both cars have a visual grace and presence that has often eluded the brand's grasp.
While not completely ripping up the design language established by the 2001 S60 in 2000, the Coupe Concept is arguably the most radical design statement we've seen from Volvo in well over a decade. Gone is the tone set by the drop-shoulder hood, and in its place is a more flowing, organic look, with the generous proportions of a grand tourer. The concept is a particularly nice piece of work, from its new T-shaped daytime running lamps to its pronounced rear fenders that subtly echo those of the P1800. Interestingly, Volvo informs that the first production model to benefit from this new aesthetic will be the next-generation XC90 crossover - and judging by the teasers we recently saw, this language looks like it'll translate nicely to the CUV's larger shape.
The Concept Coupe is powered by a through-the-road plug-in hybrid architecture composed of a twincharged 2.0-liter four-cylinder powering the front wheels and an electric motor servicing the rears. All-in, Volvo says the system is good for 400 horsepower and 443 pound-feet of torque.