1966 Ford Galaxie 500 Base 5.8l 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.

U.S. auto sales in April expected to drop despite big discounts

DETROIT — U.S. auto sales in April likely fell nearly 8 percent from the same month in 2017 despite big discounts for consumers, industry consultants J.D. Power and LMC Automotive said on Thursday. For much of the past two years, the discounts offered by automakers have remained at levels that industry analysts say are unsustainable and unhealthy in the long term. April U.S. new vehicle sales will likely be about 1.31 million units, down from 1.42 million units a year earlier, the consultancies said. The forecast was based on the first 17 selling days of April. Automakers, including Ford and Fiat Chrysler Automobiles, will release April U.S. sales results on May 1. Earlier this month, No. 1 U.S. automaker General Motors said it will stop reporting monthly U.S. sales because the 30-day snapshot does not accurately reflect the market. GM will instead issue quarterly sales reports. U.S. new vehicle sales fell 2 percent in 2017 to 17.23 million units after hitting a record high in 2016. Sales are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. LMC expects full-year 2018 U.S. new vehicle sales to come in at around 17 million units. "Uncertainty and unfavorable factors appear to be mounting for autos, including a volatile stock market, rising interest rates, rising oil prices and potential trade roadblocks," Jeff Schuster, LMC's head of global vehicle forecasts, said in a statement. The seasonally adjusted annualized rate of sales for April will be 16.6 million vehicles, down more than 2 percent from 17 million units in April 2017, the consultancies said. Retail sales to consumers, excluding lower-margin fleet sales to rental agencies, businesses and government, were set to decline about 9 percent in April. The level of consumer discounts, which can erode profit margins and undercut resale values, "remains the larger concern," the consultancies said. The average discount was $3,698, up $187 from April 2017. Discounts on trucks and SUVs were up $426, but down $226 on passenger cars. Reporting by Nick CareyRelated Video: Image Credit: Reuters Earnings/Financials Chrysler Ford GM JD Power

Help make Lego Icon Bronco a reality [UPDATE]

The Lego Ideas process is a pretty neat concept. The website allows anyone to propose a future kit, and if the project gathers 10,000 supporters within a certain amount of time, then the company investigates building it. The creator even gets a cut of the sales. We saw the operation at work last year with a very cool looking Corvette kit that hasn't hit the next stage quite yet. Now, another creator going by the username Legohero1966 has a fantastic looking replica of the Icon 4X4 Bronco hoping for support. The maker nails the boxy, brawny look of the Icon take on the classic Ford Bronco, and the Lego kit even gets the color pretty close. The miniature SUV also features a visible suspension, a removable top and, according to the description, a reel for the winch is hidden in the bumper. Underneath the body, this model even does a pretty good job of replicating the powertrain. As is expected by these kits, the hood, doors and hatch all open; on this one the spare tire carrier even moves out of the way, too. As of this writing, the Icon Bronco kit only has a little over 400 supporters, and that's a long way from the goal. If you like what you see, give the proposal a closer look on Lego Ideas. UPDATE: The original creator of the Icon Bronco kit, Paul Kim, has advised Autoblog that this Lego Ideas proposal was created without his consent, and he has reported the problem there. You can view more pictures of the Bronco and more of Kim's work, here. Featured Gallery Lego Icon 4X4 Bronco Proposal Design/Style Toys/Games Ford SUV Off-Road Vehicles Performance Classics Lego Ford Bronco icon icon 4x4 icon bronco lego ideas