2011 Chevrolet Camaro Ss / 6 Speed Manual / Boston Sound / 9k Miles 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

GM profit dips on truck changeover, but beats estimates

DETROIT — General Motors on Thursday reported a higher-than-expected quarterly profit despite a drop in production of high-margin pickup trucks, as it gears up for new models that are expected to boost profits next year. Like rivals Ford and Fiat Chrysler Automobiles, GM is banking on highly-profitable Chevy Silverado and GMC Sierra pickup trucks to lift profits, as consumers shift away from traditional passenger cars in favor of these larger, more comfortable trucks, SUVs and crossovers. During the first quarter, the process of changing over to GM's new pickups resulted in a drop in production of 47,000 units. GM Chief Financial Officer Chuck Stevens said the production drop had resulted in a drop in pre-tax profit of up to $800 million. Earlier this year, GM said its 2018 profits would be flat compared with 2017, but expected its all-new pickup trucks would boost margins starting in 2019. On Thursday, GM reiterated its full-year 2018 forecast for adjusted earnings in a range from $6.30 to $6.60 per share. The automaker said capital expenditures were more than $500 million higher in the quarter because of investments its new pickup trucks and a family of low-cost vehicles under development with Chinese partner SAIC Motor Corp. On Wednesday, rival Ford said it would stop investing in most traditional passenger sedans in North America. CFO Stevens told reporters on Thursday that GM has "already indicated that we will make significantly lower investments on a go-forward basis" in sedans. 2019 GMC Sierra View 21 Photos GM benefited from a lower effective tax rate in the quarter, but adjusted pre-tax margin fell to 7.2 percent from 9.5 percent a year earlier. Stevens said the company's profit margin should hit 10 percent or higher in the second quarter and for the full year. GM said material costs were $700 million higher in the first quarter, and it expects those costs to continue rising. The automaker said it would counter those increases with cost cutting measures. "It is a more difficult environment than it was three or four months ago," Stevens said when asked about rising commodity prices from potential steel and aluminum tariffs announced by the Trump administration. "But we are confident we can continue to offset that." The company reported quarterly net income of $1.05 billion or $1.43 per share, a drop of nearly 60 percent from $2.61 billion or $1.75 per share a year earlier. Analysts had on average expected earnings per share of $1.24.

2016 Chevy Volt zaps into the Detroit Auto Show with big improvements [w/video]

If you need an example of how quickly the plug-in hybrid market is evolving, just take a quick glance at the 2016 Chevrolet Volt. For its freshly introduced new generation at the 2015 Detroit Auto Show, the sedan sports extra range, better efficiency and a host of other improvements to make the vehicle even easier to live with. A big portion of the model's improvements come from Chevy's second-gen Voltec propulsion system. The updated drive unit is 12 percent more efficient and sheds 100 pounds from the scales. The battery itself also drops 21 pounds, while growing in capacity to 18.3 kilowatt hours. It gives the Volt an electric range of up to 50 miles and offers a total driving distance of over 400 miles. In addition, the new 1.5-liter engine offers estimated 41 miles per gallon fuel economy (with no battery). The significant improvement in specs are certainly respectable, but the vast majority of buyers should notice the latest Volt's evolved styling first. Up front, there's a shiny new nose with a more modern take on Chevy's split grille. From there, the design slows back to a more svelte take rear with the original model's futuristic, square taillights not making the transition. Inside, Chevy simplifies the infotainment system and now offers seating for three in the back. Check it all out in the gallery, above, to see how far the latest model has come. Chevrolet Introduces All-New 2016 Volt New model features expressive, sleek design and delivers 50 miles of EV range DETROIT – Chevrolet today unveiled the all-new 2016 Volt electric car with extended range, showcasing a sleeker, sportier design that offers 50 miles of EV range, greater efficiency and stronger acceleration. The Volt's new, efficient propulsion system will offer a General Motors'-estimated total driving range of more than 400 miles and with regular charging, owners are expected to travel more than 1,000 miles on average between gas fill-ups. "The 2016 Chevrolet Volt provides our owners with a no-compromise electric driving experience," said Alan Batey, president of GM North America. "We believe our engineering prowess combined with data from thousands of customers allows us to deliver the most capable plug-in vehicle in the industry." The 2016 Chevrolet Volt's technology and range advancements are complemented by a design that blends sculpted, muscular proportions with aerodynamic efficiency, and an all-new interior with seating for five and improved functionality.