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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.

NHTSA and Ford investigating steering issues in Crown Vic, Grand Marquis and Marauder

There may be more steering woes for the Ford Crown Victoria. The National Highway Traffic Safety Administration has opened a preliminary evaluation into the Crown Vic and Mercury Grand Marquis from the 2004 to 2007 model years and the Mercury Marauder for the 2004 and 2005 model years because the steering shaft can jam. The issue could potentially affect an estimated 500,000 vehicles.
According to the regulator, there is a possibility that the driver's side heat shield for the exhaust manifold can rust, dislodge, and then wedge into the steering shaft. If this occurs, it leads to a situation where the driver can no longer control the car.
NHTSA has received five complaints of this happening, including one alleged case with an injury. In that situation, the car was driving onto the highway, lost control and rolled over. One occupant was hurt in the accident.

2015 Ford Mustang Convertible to recreate Empire State Building stunt

It would have been all too easy to miss the auto show debut of the 2015 Ford Mustang convertible. It was, after all, unveiled alongside its fixed-roof counterpart at the Detroit Auto Show this past January, lumping coupe and cabrio into one debut. But Ford is evidently still intent on making its new droptop stand out. The top of the Empire State Building ought to do the trick.
Automotive history buffs may recall that, 50 years ago, Ford unveiled its first Mustang convertible atop what was then the tallest building in the world, that Art Deco icon of the New York skyline. Half a century later, Ford is recreating the feat and bringing the new topless Mustang to the same observation deck on the building's 86th floor.
Getting it up there, of course, will be no easy task. While they'd usually airlift the vehicle onto the roof or lift it by crane, the spire protruding from atop the building makes approaching the narrow observation deck too dangerous, and no mobile crane can telescope the thousand-plus feet it would take to get the pony car up there.