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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.

Project CARS 2 is coming

It's barely been a month since we released our review on Project CARS, and already, developers Slightly Mad Studios is preparing a sequel. It'll use the same crowd-funding formula that put together such a successful game this time around. The sequel was announced on the World of Mass Development portal, the same source of crowdfunding for the first Project CARS. Among the enhancements Slightly Mad is planning, there's the usual promise of more tracks and cars, but what we're really looking forward to is the news hidden in that promise. Project CARS 2 will boast bigger, more exciting forms of racing, including rallycross. In total, there will be over "50 unique locations and 200+ courses," "8 different disciplines," and "200+ cars from over 40 different vehicle classes including never-before-seen Concepts and Banned Race Cars." Yes, this all sounds very good. Project CARS 2 will also add a new customizable test track feature, and there will be an increased emphasis on both co-op and social gameplay and "skill and behavioral-based matchmaking" in online play. The crowdfunding campaign for the new title is currently underway, although it's unclear when we'll get a planned release date. As for our own wish list, it's remarkably short. We'd like a more fully fleshed out career mode, actual vehicle upgrades and customization options, and a genuine economy would be welcomed additions. Part of the fun of racing titles is working up the coin to acquire new and exciting cars. It's not that we mind full access to the game's entire roster of vehicles, we just wish that in the career mode, there was a bit more planning and challenge to getting ahold of new racers. In short, we want the best parts of Forza Motorsport with combined with the best parts of Project CARS. Oh, and if the frame-rate issues we experienced on the Xbox One could be sorted out too. What would you like to see included in Project CARS 2? Perhaps cleaner menus? A better soundtrack? Have your say down in Comments. Until then, check out the launch announcement over at WMD. Related Video: Featured Gallery Project CARS 2 News Source: World of Mass Development via Kotaku Toys/Games Ford Racing Vehicles video games xbox one playstation 4 project cars slightly mad studios

Ken Block and friends race light in silly-beautiful Castrol commercial

How does one make fast, loud, drifting cars better? Well, you can add more fast, loud, drifting cars or you can add lasers. Either or, really. In this case, Castrol did the right thing and added both, creating a highly stylized commercial for its Edge Titanium motor oil starring South African racer Adrian Zaugg, BMW factory driver Augusto Farfus, Audi DTM and Le Mans staple Mike Rockenfeller and some bloke named Ken Block.
Their cars? No surprise, but Block is in his Ford Fiesta GRC, while Zaugg samples a Lamborghini Aventador and Farfus and Rockenfeller drive along party lines, with a BMW M4 and an Audi R8, respectively. And those cars look good, too, thanks to the creative light and laser work on display.
Take a look below for the video from Castrol.