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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.

China-market Ford Edge spotted testing in Spain with a mystery wagon

There are a few threads to put together for this one. The U.S.-market Ford Edge and Lincoln Nautilus have been rumored to meet their ends during the 2023 model year; contract negotiations pointed to the Oakville Assembly Plant that that builds being converted to build five Ford electric vehicles in 2025. On top of that, we've heard years of rumors about a Ford Fusion Active wagon-esque product that would challenge the Subaru Outback and fill a perceived gap in the U.S. lineup. We're not sure what the Ford vehicles in the spy shots above are, nor were the spy photographers who caught them during hot weather testing in Spain. And we mean vehicles, plural, details like the side mirror attachment points, DRL signatures, rear bumpers and muffler orientations pointing to these being two products. Here are our guesses. One of them is almost certainly the new Ford Edge that will debut soon for the Chinese market (above and below). Motor1 saw that the Chinese Ministry of Industry and Information Technology published photos of that country's newest Edge in two configurations, a lesser trim that can seat five or seven, and a top trim that seats seven only. The camouflaged car in the gallery above with the mirrors that mount on the door would be the same vehicle. The headlights on the China-market Edge feature the same central, stacked DRLs instead of the single lower and side DRLs of the other vehicle. The taillights are temporary units, but they match the squared vertical design of the new crossover. And the rear bumper of the Chinese Edge features the same slanted cutout in the middle, and beneath that, the same enormous muffler on the driver's side of the car. Look more closely, and one can also spot the way the sheetmetal flicks up at the C-pillar then descends to the D-pillar. Engineers tried to hide it with camo, but it's there. Ford Authority believes the other vehicle, the one with the side mirrors mounted at the base of the A-pillar, could be a new Lincoln Nautilus. Ford's Changan Hangzhou plant in China builds the Edge and its sister Lincoln product for that market. Although both are presumed to be headed for the grave here, one is clearly carrying on over there, so there's no reason to believe the other wouldn't as well.       The big mystery is whether one of these is the Ford Fusion Active. Well, a bigger mystery would be to figure out if the Fusion Active is even a thing anymore, or if we — including Ford — collectively imagined it.

2017 Ford Fusion facelift comes into focus

The latest generation Ford Fusion has been one of the better-looking members of the mainstream midsize sedan ranks since its introduction for the 2013 model year. In the automotive world, though, even the most attractive designs don't stay fresh for long. These new spy shots shed some light on what to expect when the model is refreshed, possibly for 2017. With only a modicum of camouflage here, it's not exactly hard to see where the Fusion is getting design tweaks. Up front, the wide grille remains, but the lower air dam appears to have restyled recesses for the fog lights. Also, while it's difficult to get an exact look, the headlights seem a little rounder through the concealment. Moving to the rear, the lower bumper shows some tweaks, but those circular pipes are obviously just there for testing. With a light on, you can a good glimpse of the redesigned taillights too. Based on these photos, Ford's stylists know a good thing when they have it, and it doesn't look like the Fusion's general look will have any monumental changes. Still, it's worth a minute to click through the gallery for a preview of the refreshed design. Related Video: