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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.

2014 Chevrolet Corvette Stingray Convertible is a Swiss hit

We've just received an early peek at the 2014 Chevrolet Corvette Stingray Convertible here at the Geneva Motor Show. General Motors was kind enough to let us attend the final dress-rehearsal for its press conference scheduled for tomorrow's opening media day, and we've come away with a good look at the droptop C7 in person.
In the metal, the new Corvette Convertible seems somehow less avant-garde than the Coupe, even in Z51 Performance Package guise. That's not necessarily a bad thing - more of an observation. That initial impression may be because the C7's new greenhouse is one of its most prominent departures from Corvettes past. While we didn't get to see the top erected, there's no rear side window in the stock images that Chevy has already released, suggesting the C7 convertible's profile will look a lot like its C6 predecessor. And with the new power tonneau cover in place, there are also no rear ducts that come as part of the Z51 package (they've been moved under the car).
As with its predecessor, the tonneau is a handsome double-bubble piece, and the body-color "waterfall" element into the cabin between the seats has made it to the new model as well. Thus, the overall look with the top down should be a bit more familiar to prior-gen C6 owners - if you're one of those put off by the C7's new shape, you'll probably appreciate the convertible bodystyle more than the coupe.

New Chevrolet Silverado to be revealed on Facebook on Thursday

There's not much to see here, but if you're one of those waiting for the reveal of the 2014 Chevrolet Silverado 1500, above is the teaser image that Chevrolet posted on its Facebook page. We've seen the truck in form-fitting camo before, and even less can be made out here beyond those seriously punchy Silverado-esque fenders and the knowledge that the projector-beam headlamps teased previously do indeed work. We'll have to wait until Thursday for a full perusal of the "bold exterior design" and "careful attention given to every detail" we've been promised.
Gathering intel and rumors, magnesium and aluminum contribute to the Silverado's weight loss plan, the purported "High Country" top-tier trim will contribute to luxury pickup truck competition and profit margins and the next-generation small-block V8 will contribute to improved fuel economy. On the engine note, there have been rumors of available V6 engines, and when Facebook user John Jones asked "Where's your answer to that EcoBoost Chevy?", the Bowtie replied "stay tuned on the 13th. We think you'll be pleased...".
Along with the "Raise the Bar" tag, Chevrolet says of the Silverado, "You asked, we delivered." You can watch the reveal live on Chevrolet's Facebook page at 9:30 am EST, this Thursday, December 13. The GMC Sierra 1500 will also be there, and we'll see both in person at the Detroit Auto Show in January.