1977 Chevrolet C-10 on 2040-cars

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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

How Chevy used popular Instagram user to promote 2016 Volt

A picture is worth a thousand words. When it comes to Chevrolet and its Volt extended-range plug-in, the automaker is hoping pictures can be turned into a few more buyers. The company extended a little love to one popular social-media practitioner to see if the trick works. Former biochemical engineer Kevin Lu started his Instagram account a couple of years ago during a road trip, and the quality of his shots has attracted about 181,000 followers. With that popularity in mind, Chevy brought Lu up to Detroit to check out the unveiling of the next-generation Volt at the Detroit Auto Show last month. Lu also got to see the Detroit-Hamtramck Assembly factory where the Volt is built, Automotive News reports. As for the next-gen Volt, Chevy says a more efficient powertrain and lighter battery help give the car an all-electric range of up to 50 miles and a total driving distance of more than 400 miles. Chevy also touts the model's streamlined grille and (tight) seating for three in the rear. General Motors hopes a combination of those improvements and exposure from sources such as Lu and his Instagram account (and some sleepy ads, apparently) revitalize sales of the model. Last year, Volt sales fell 19 percent to 18,805 units. Related Videos: News Source: Automotive News-sub.req. via GM AuthorityImage Credit: Kevin Lu/Instagram Green Detroit Auto Show Chevrolet Detroit extended-range plug-in instagram

Recharge Wrap-up: meet the Luka EV project, VisibleTesla allows Model S hacking

Select Registry is partnering with Tesla to install chargers at many of its lodgings. More than 170 hotels, inns and bed & breakfasts will install Tesla High Power Wall Connectors for their guests to use. So far, 63 properties have installed the chargers. Eventually, Select Registry members in 34 states as well as Nova Scotia will offer charging on-site. Tesla's wall charger provides the Model S with 58 miles of range per hour. The hotels will rent you a room for the full night, as well. Read more in the press release below. Tesla Model S owners can hack their car with the VisibleTesla app. The free, open source app allows users to check on and control the status of the car and its subsystems, similar to Tesla's official apps. VisibleTesla can also be used to schedule certain automated commands. For example, its creator, Joe Pasqua, has his car send him a text message reminding him to bring his bags with him when he enters the grocery store parking lot. Other users have the car remind them if the car is not charging at a certain time, or schedule the car to turn on the heat before departure. Read more at TechWorm, or learn more at the VisibleTesla website. Georgia Power has added 32 Chevrolet Volts to its fleet. Employees, particularly the utility's energy efficiency experts, will use the cars to travel to customers' homes and businesses to conduct energy audits. "We are leading by example and demonstrating to our customers, and other Georgia businesses, that electric transportation works for all drivers," says Georgia Power Chairman, President & CEO Paul Bowers. Georgia Power also offers charger rebates and special rates for EV customers. Read more at Domestic Fuel. The Luka EV is a project to build an affordable, lightweight, retro-looking, road-legal electric car in one year. The team wants to get the car certified for use on EU roads by September 2015. They have goals of achieving a driving range of 300 kilometers (about 186 miles), keeping the cost under ˆ20,000 (about $22,280 US at current rates) and the weight under 750 kilograms (about 1,650 pounds). The builders recently completed their first range test of the working vehicle, which uses in-hub motors for propulsion. Learn more at the Luka EV project page on Hackaday. Select Registry Teams with Tesla Motors Both Tesla owners and their vehicles can recharge at more than 170 B&Bs, inns, and hotels throughout the U.S.