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GM recalls trucks and SUVs for brake pedal problem

The Basics: General Motors will recall over 473,000 North American examples of the 2015-2016 Chevrolet Silverado HD, GMC Sierra HD, and police pursuit versions of the Chevy Tahoe. These include 426,573 vehicles in the US and 46,837 in Canada, according to Reuters. The Problem: The brake pivot nut can loosen over time, which can render the pedal inoperative. This would be a danger to drivers trying to stop the vehicles. In some cases, the "Service Engine Soon" light might come on. Injuries/Deaths: None reported. The Fix: Dealers will inspect the pivot bolt, and if necessary they will apply adhesive to it and reinstall the part with increased torque. If You Own One: "We expect to start customer notifications shortly," GM spokesperson Tom Wilkinson told Autoblog. Related Video: Transport Canada Recall # 2016053 Recall Date 2016/02/04 Notification Type Safety Mfr System Brakes Manufacturer Recall Number 20760 Units Affected The number of vehicles or components affected by the recall. 46,837 Category Light Truck & Van, SUV Recall Details On certain Heavy Duty and Police Pursuit vehicles, the brake pedal pivot nut may become loose, causing the brake pedal to be loose or inoperative. If the brake pedal becomes loose or inoperative, it could interfere with the accelerator pedal, and/or the driver may be unable to safely stop the vehicle through application of the brake pedal, potentially affecting stopping distances and increasing the risk of a crash causing injury and/or damage to property. Correction: Dealers will inspect the pivot bolt installation to determine whether the vehicle has already received the production remedy. If not, the dealer will add adhesive to the nut, and reinstall the nut at an increased torque. Note: This condition may result in the "Service Engine Soon" light illuminating, and brake lights may stay on longer than expected. Make Model Model Year(s) Affected CHEVROLET SILVERADO 2015 2016 CHEVROLET TAHOE POLICE PURSUIT VEHICLE 2015 2016 GMC SIERRA 2015 2016

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

Autotrader picks best cars for 2015's college grads

Summer is here and the school season is winding to a close. That means millions of students will be graduating college and (hopefully) entering the workforce. For many, that will mean buying a new car suited to the new stage in life into which they will now be embarking. That can be a bewildering choice, especially for someone who's never bought a car before. Fortunately, Autotrader has come up with a short list of recommended cars – new and used – which it recommends to the graduating class of 2015. Among the site's top choices are some compelling crossovers and hatchbacks, including the Buick Encore, Chevy Trax, and Jeep Renegade, as well as the Honda Fit, Nissan Versa Note, Mazda3 and Fiat 500. Can't stretch to buying new, or don't see the point? Autotrader has also identified the Toyota Camry, Ford Fusion and even the Lexus IS as smart buys in the certified pre-owned category. "Any time someone goes through a major life change, such as graduating college, they need to determine if their current ride makes sense for their lifestyle, from both a financial and functional perspective," says Autotrader editor Brian Moody. "For example, while that hand-me-down SUV from your parents was nice when you turned 16, you may want to opt for a safer, more fuel-efficient car as you transition into the working world." Autotrader Names 10 Best Cars for Recent College Graduates ATLANTA, May 28, 2015 /PRNewswire/ -- For many, graduating college is a milestone like no other – it represents a new chapter, a proud accomplishment and, fortunately or unfortunately, financial independence. Luckily for graduates who are in the market for a new car to suit their post-college lifestyle, Autotrader's expert editors say now is a great time to make a purchase, as dealerships are flush with affordable models that are fun, fuel-efficient and thoughtfully designed. Autotrader Logo "Any time someone goes through a major life change, such as graduating college, they need to determine if their current ride makes sense for their lifestyle, from both a financial and functional perspective," said Brian Moody, site editor for Autotrader.