2008 Chevrolet Silverado 3500 W/t Crew Cab Dually 6.0l Clean Carfax Low Reserve 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.

2020 Chevy Trax and Buick Encore spied testing

We just recently saw a little crossover SUV from General Motors being tested, and we weren't positive what brand it belonged to. We narrowed it down to Chevy or GMC, but we're feeling more confident that it's a GMC now, since both the next generation Chevy Trax and Buick Encore subcompact crossover SUVs have been spied testing together. Of the two, the Chevy has the more radically different sheet metal. It ditches the somewhat frumpy, lumpy shape of the current Trax for a body inspired by the bigger Chevy Blazer. The roofline has sharp corners, and the hood is wide and flat. The front fascia, though obscured, shows the most connection to the bigger crossover. It has the same split headlight configuration, and it looks as though the grille takes up a sizable section of the fascia. View 7 Photos The Buick Encore on the other hand looks evolutionary in design. The body still has plenty of curves, and the distinctive, sharply rising window sill are all hallmarks of the current Encore design. The headlights and grille are similar, too, though the grille appears to be slightly updated to fit in with the Enclave and Regal. It's understandable that Buick might want to play it safe with the new Encore, since the model is Buick's best seller, selling about 23,000 units in the last quarter, nearly twice that of the next best performer, the Enclave. Since this is the first time we've seen these little crossovers, we expect it will still be a year or two before we get to see them fully revealed. They will probably continue to use small-displacement turbocharged four-cylinder engines with either front- or all-wheel drive. Related Video:

Celebrate the 4th of July with Autoblog's Car Club USA video series

If you've missed out on seeing and episode of Autoblog's newest series, Car Club USA, there's never been a better time to give it a shot than right now. CCUSA takes a deep look at various car cultures across the country: from Muddin' in the Deep South, to drifting on the East Coast, to Jeeping out west. No matter your automotive passion we have (or will have) an episode for you to jive with. Oh, and there are Corvettes. Who doesn't love a good Corvette? With the long holiday weekend in full swing, we couldn't think of a better time to help you get familiar with these great mini-films, or perhaps to watch one for the first time. If you like what you see, stay tuned – there's a lot more Car Club headed your way this year. Each Car Club USA episode features a different car club or event from across the US, where passionate owner communities gather to share automotive experiences and embark on incredible adventures. From Main Street cruises to off-road trails, catch all the latest car club activity on Autoblog. Chevrolet Coupe Car Club USA Videos