2021 Ram 2500 Laramie 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 also sheds parts from its pickups to boost payload ratings

The row between Ford and Ram over who boasts the best-in-class tow rating for heavy duty pickups has revealed a number of things. Chief among them is a report that Ford removes items like the spare tire, jack, radio and center console from its vehicles in a bid to lower its base curb weight and therefore keep the truck's gross vehicle weight rating down.
For those that need a refresher, GVWR is the vehicle's curb weight plus its maximum payload. A lower GVWR allows Ford to station its F-450 among the so-called Class III pickups, despite the fact that internally, it has the makings of a more brutish Class IV truck.
Ford explains away these deletions, saying a customer could order their vehicle in such a manner. It has also come to light that Ford is not the only automaker to engage in such practices.

Ram introduces 33-mpg Tradesman HFE EcoDiesel

Ram announced Tuesday that its 2021 1500 Tradesman HFE EcoDiesel trim goes toe-to-toe (tow-to-tow?) with the segment's most efficient diesels, offering 23 mpg in the city, 33 mpg on the highway and 26 mpg combined. That's good enough for a first-place tie in the segment, as those numbers now match those of Chevy's Silverado 1500 with the 3.0-liter Duramax oil-burner.  "Ram is committed to innovation and powertrain leadership, and as the no-compromise benchmark for efficiency and performance, we continue to listen to customer input by offering unsurpassed fuel economy," said Ram boss Mike Koval Jr. "The Ram 1500 is America’s most powerful half-ton diesel pickup with 480 lb.-ft. of torque and the most capable light-duty diesel with towing capability up to 12,560 pounds, and delivers up to 1,000 miles of range on a single tank of fuel." From a glance at Ram's specs table, it appears the HFE EcoDiesel configuration (based on a Crew Cab Tradesman with the 5-foot 7-inch bed) is good for 8,210 pounds of trailering and 1,780 lbs of payload. It's worth noting that the Chevy matches the HFE's fuel economy while also providing more towing capability. You can trade the HFE's small fuel economy gain for a bit more towing capability by going to a 3.92:1 rear axle. That will buy you another 1,700 lbs of towing. Even more towing capacity (specifically, the 12,560 lbs maximum quoted above) comes with the Ram 1500 Quad Cab EcoDiesel.  Standard equipment for the HFE includes 20-inch aluminum wheels, a black grille and bumper cover, a tonneau cover, step rails and some perfectly decent cloth seats. The HFE EcoDiesel is available in one of a whopping two finishes: black or white. Exciting. Ram says the HFE will start to appear on dealer lots in the second quarter, and the truck will start at $43,935 (including $1,695 for destination). Related Video: