2006 Chevy Impala on 2040-cars

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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.

Star Wars Car Drives To The Dark Side Of Comic Con

When it comes to designing coveted collectible toys for sale at Comic-Con, the annual celebration of pop culture lifting off Thursday in San Diego, the sky's the limit for the designers at Mattel. Fittingly, the building where Mattel's dreamers conceive of their limited-edition playthings is just down the street from the Los Angeles International Airport. Inside the colorful design center - a Hot Wheels-themed shuttle bus transports employees from Mattel's parking garage - the designers have spent the past year working on 10 toys created especially for the Comic-Con crowd, including a replica of the Batmobile from the upcoming game "Batman: Arkham Knight" and a 9-inch-tall action figure of Superman killer Doomsday. "We don't have to worry about retail. We don't have to worry about margins," said Doug Wadleigh, Mattel's senior vice president of global brand marketing for boys and entertainment. "We don't have to worry about operational efficiencies. We only have to worry about creating the coolest toys for our fans. Period." It also offers some escape from Mattel's reality these days. Like other toy makers struggling in this digital, video-centric age, the company is trying to remain relevant in the retail world. Core brands like Barbie have seen less of a demand, with a 14 percent drop in sales in the first quarter of this year. Mattel had a net loss for the first three months ending March 31 that totaled $11.2 million. But things will at least seem rosier at Comic-Con, where eager buyers for the toys await (the only other place they will be sold is on the Mattel collector's site). Mattel's exclusives this year run between $20 and $85, but elite toys can fetch much more when they're put up for auction. The crown jewel for Wadleigh and his team this year is a Darth Vader die-cast car, the first official collaboration from Hot Wheels and the "Star Wars" franchise. The car - imagine if a Chevrolet Corvette C5 and the villainous Sith lord's helmet had a baby - comes in a sleek black box and encased in a replica of Vader's lightsaber, complete with a swooshing sound effect. "We've been trying to partner with Lucasfilm and Disney on this property for a long time," said Wadleigh. A full-size working replica of the Vadermobile will be on display at Mattel's booth at the massive San Diego Convention Center.

Callaway rolls out radical Corvette C7 GT3-R at Hockenheim

Leave it to Callaway to take a badass Corvette and make it even more so. Case in point: the new Callaway Corvette C7 GT3-R you see here. It made its big debut this past weekend during the season finale for the ADAC GT Masters series at the legendary Hockenheimring – the on-again, off-again home of the German Grand Prix. Why in Germany, you ask? Because that's where Callaway Competition is based. The racing division got its start in Heilbronn as Woeher & Ciccone back in 1985. It joined with US-based Callaway Cars in 1988 to distribute its modified Corvettes in Europe, and branched out into constructing racing cars in 1994. And this is its latest project. Designed in partnership between Callaway Competition in Germany and Canadian designer Paul Deutschman, the new GT3-R replaces the previous C6-based Z06.R GT3. It packs a 6.2-liter V8 pumping 600 horsepower through an X-Trac six-speed sequential gearbox. And as you can see, it sure looks the part. Callaway will be offering the new GT3-R to privateer teams for entry in a variety of racing series around the world. But it'll also be fielding the example you see here, sponsored by Whelen Engineering that – like Callaway Cars – is based in Connecticut. Callaway Corvette C7 GT3-R World Debut at Hockenheim October 3, 2015 Hockenheim, Germany – October 3, 2015 – This weekend's ADAC GT Masters Season Finale was the backdrop for the unveiling of Callaway Competition's new Callaway Corvette C7 GT3-R. Following a brief presentation to media and invited guests, the successor of the C6-based Callaway Z06.R GT3 was displayed to the public for the first time on October 3, 2015 at the Hockenheimring in Germany. Constructors of GT race cars since 1990 and based in Leingarten Germany, Callaway Competition possesses a wealth of experience, technical know-how and a broad network of specialized professional partners. These elements were crucial to conduct such a large undertaking. After nearly two years of comprehensive planning, intensive development and expert fabrication of vehicle components, Callaway Competition completed the first C7 GT3-R just a few weeks ago. Its striking design comes as a result of the collaboration between Canadian designer Paul Deutschman and team owners Giovanni Ciccone and Ernst Wohr. Mike Gramke, Uwe Hoffmann, Florian Mohring and Andre Zanke were also heavily involved in the vehicle's development.