2014 Chevrolet Silverado 1500 1lt 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 removes start/stop from full-size trucks and SUVs with V8 engines

GM is removing start/stop technology from a number of its popular full-size SUVs due to the ongoing chip shortage. This follows the removal of cylinder deactivation technology from some of its trucks, which was also due to the chip shortage. GM Authority first reported the news, but we’ve just confirmed everything with a GM spokesperson.  The following 2021 model year vehicles will be affected: Chevy Tahoe, Chevy Suburban, GMC Yukon, Cadillac Escalade, Chevrolet Silverado 1500 and GMC Sierra 1500. Only versions of those vehicles built with the 5.3-liter V8 or 6.2-liter V8 and mated to the 10-speed automatic will have the tech removed from them. Only vehicles manufactured on or after June 7 will be affected. “By taking this measure, it will enable us to continue production of our high-demand full-size SUV and pickups as the industry continues to rebound and strengthen,” GM said in a statement. Those who ultimately buy one of these vehicles without start/stop technology will receive a $50 discount off MSRP for their troubles. Losing this fuel-saving tech could be a big negative for some, but we know many folks turn it off anyway. Not having to press the button to deactivate start/stop every time could actually be a positive if youÂ’re part of the camp who does that already. 2021 Cadillac Escalade Sport Platinum View 27 Photos On the downside, GM says “most of the affected vehicles will experience a minor reduction in fuel economy.” We donÂ’t have revised window stickers in hand to know how each model will be affected, but any 1 mpg reduction will be rather impactful for vehicles rated as low as these trucks already are. Any reduction will be seen in the city mpg rating, so take the kind of driving youÂ’re going to be doing into account before purchasing. When it comes to greenhouse gas compliance rules, GM says it doesnÂ’t foresee this impacting the companyÂ’s average fleet score. It also intends to begin adding start/stop back to these models as soon as possible, but there will be no retrofit effort made to fit the tech to vehicles already built without it. “Our supply chain organization continues to make strides working with our supply base to mitigate the near-term impacts of the semiconductor situation,” GMÂ’s statement reads. “GM continues to leverage every available semiconductor to build and ship our most popular and in-demand products, including our highly profitable full-size trucks and SUVs for our customers.

Porsche, Jaguar continue dominance in 2015 JD Power APEAL study

The top of JD Power's 2015 APEAL Study has not changed much in the last year. Porsche remains No. 1 with Jaguar nipping at its heels, although both premium brands saw their overall score fall compared to 2014. For those that need a refresher, the APEAL Study looks at how "gratifying" a vehicle is to own and drive, rating cars and brands on a 1,000-point scale. The industry average for 2015 has increased from 794 to 798, while the total number of automakers that finished above the curve increased from 16 to 20. While Porsche and Jaguar finished at the top, their scores dropped eight and seven points, respectively, to 874 and 855. The top "non-premium" brand was Mini, which scored an impressive 825, up from 795. If the BMW-owned British marque is still a bit too premium for your tastes, last year's non-premium winner, Hyundai, did climb five points and is this year's runner up. At the opposite end of the scale, Smart sits at the very bottom of the rankings, with a score of 683 (it didn't appear on the 2014 rankings). Fiat also dropped, from fourth worst in 2014 to second worst in 2015, despite the 500 being named most appealing city car. Subaru made an impressive climb, from third worst to seventh, falling just 10 points shy of the industry average and two points south of the non-premium average. In the individual vehicle segments, eight brands earned multiple awards, with Ford, Chevrolet, and Porsche earning three apiece. Surprise segment victories included the new Ford Expedition, which beat out Chevy's popular Suburban. The Infiniti QX80 bested the likes of the Cadillac Escalade and Range Rover for best large luxury SUV, and the Dodge Challenger beat its muscle car rivals from Ford and Chevy. Most of the victories, though, were quite predictable. The Mazda6 and CX-5 took wins for the midsize sedan and compact SUV categories respectively, while the Volkswagen Golf captured the compact car win. The Ford F-150 won the large pickup category, while the Porsche Cayman was named most appealing compact premium sporty car. Check out the official release on the 2015 APEAL Study, available below, from JD Power. 2015 U.S. APEAL Study Results The latest safety-related technologies are among the drivers of customer satisfaction with new vehicles, according to the J.D. Power 2015 U.S.