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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.

2015 Chevrolet Cruze spied on its home turf

The next Chevrolet Cruze isn't set to go into production for about another year, and we're just now seeing prototypes of the new compact running around here in the States. Not much more has been revealed since we saw the car blasting through the snow in Europe, but we can still clearly see new design elements like the larger grille, slimmer headlamps and redesigned taillamps.
Our spy photographers worked up a composite image of this Cruze prototype alongside the current model, and here, we can clearly see some big visual changes are in store for the new model. The 2015 Cruze's hood slopes downward more dramatically, the windshield is more heavily raked, and the roofline looks more fluid overall. The next-generation Cruze will ride on the new global Delta platform that will also underpin other General Motors vehicles like the Chevrolet Volt and Equinox.
As for what's under the hood, we expect the normal range of gasoline four-cylinder engines (both naturally aspirated and turbocharged), and the compact's new turbodiesel four should carry over, as well. Have a look at the full brace of spy photos in the gallery above.

Travis Kvapil tells Twitter his Sprint Cup car was stolen

There's a bizarre story coming out of Atlanta today, as NASCAR racer Travis Kvapil is reporting that his Sprint Cup Car was stolen from a lot at the Drury Inn in Morrow, GA. Kvapil announced the theft, which included the black pickup that was hauling the trailer and the #44 Chevrolet SS Sprint Cup Car – shown above, with driver JJ Yeley at the wheel – on Twitter. According to Kvapil, the car wasn't going to be ready for the Thursday test session at Atlanta Motor Speedway, although forecasts of snow forced the team to dispatch their main trailer and tools to the track ahead of the car, which left for Atlanta later yesterday. According to ESPN, police in Morrow have video of the "incident," which happened at 5:34 AM Friday, with police investigating it as as criminal in nature. "Sometimes what happens when thieves see trailers, they might just assume there's something in the trailer they can go off and sell," Sgt. Larry Oglesby, of the Morrow PD, told USA Today. "Sometimes when things like this occur, they will drop off the items in a parking lot somewhere – like a Walmart parking lot – once they realize what they have." "All we know is it was a silver jeep," team owner John Cohen told USA Today. "One guy got out and they pulled off together." Earlier, Cohen told ESPN that the theft will force the team out of this weekend's race at the Folds of Honor QuikTrip 500, at Atlanta Motor Speedway. Kvapil, meanwhile, has taken to Twitter to appeal to his followers to be on the lookout for the truck, trailer and race car. Here's hoping it turns up all together. Check out the driver's tweets, below. Wow. Anyone near Atlanta find my stolen Cup car let me know! Unreal - Travis Kvapil (@TravisKvapil) February 27, 2015 I bet when whoever has it, opens the trailer and is going to be like 'oh snap' - Travis Kvapil (@TravisKvapil) February 27, 2015 Ok, to clarify. @Teamxtreme44 transporter is @amsupdates. The guys stayed and worked on the car Thursday at the shop in NC. They drove.... - Travis Kvapil (@TravisKvapil) February 27, 2015 down last night in a Ford dually and enclosed trailer with racecar inside. That was stolen out of hotel parking lot this am in Morrow, GA - Travis Kvapil (@TravisKvapil) February 27, 2015 Black Ford dually, white enclosed tag behind trailer. New Jersey plates - Travis Kvapil (@TravisKvapil) February 27, 2015 Dang.... I'm wishing we had LoJack or something on it!