2021 Ram 1500 Trx Crew Cab 4x4 5'7" Box 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

2020 Ram Heavy Duty Limited Black Edition answers the call of the void

Ram buyers overcome by the lure of the Sith or the call of the void when configuring their pickups have had a variety of ways to go dark on their trucks, from 1500 to the heavy duty line. Now the 2020 Ram 2500 and 3500 HD's top Limited trim is getting access to all the darkness possible with the Black Edition, creating a truck that says "lights out" in about six different ways. The package blacks out the heavy duty rigs entirely, starting with the black grille with black RAM lettering, black bumpers front and back, black tow hooks, black door handles, black side-view trailer tow mirrors, black bezels around the LED headlights and taillights, dark-tinted taillights, and matte badges. Any colored lenses, such as the clearance lights above the cab, are clear. Because on the Ram Heavy Duty Black Edition, black means black. The Black Edition can be optioned on the Ram 2500 or 3500 in 4x2 or 4x4, in single- or dual-rear-wheel trims. When outfitted with single wheels in back, the Black Edition sits on 20-inch black wheels. When dual wheels hang off the back axle, buyers will find 17-inch black wheels with machined eyelets. Engine choices are the regular trio of 6.4-liter Hemi V8 with 410 horsepower and 429 pound-feet of torque, the normal 6.7-liter Cummins straight-six diesel making 370 hp and 850 lb-ft, or a high-output version of the 6.7-liter restricted to the 3500 that puts out 400 hp and 1,000 lb-ft. The three-quarter- and one-ton darkness rolls into dealerships in a few months starting at $64,440 for the Ram 2500 2,745 after a $1,695 destination charge. That's a $1,095 premium over the standard Limited Trim. Assuming the same premium for the Ram 3500 Black Edition means a starting price of $65,790. Related Video:    

Stellantis lays off salaried workers, cites uncertainty in EV transition

DETROIT — Jeep maker Stellantis is laying off about 400 white-collar workers in the U.S. as it deals with the transition from combustion engines to electric vehicles. The company formed in the 2021 merger between PSA Peugeot and Fiat Chrysler said the workers are mainly in engineering, technology and software at the headquarters and technical center in Auburn Hills, Michigan, north of Detroit. Affected workers were notified starting Friday morning. “As the auto industry continues to face unprecedented uncertainties and heightened competitive pressures around the world, Stellantis continues to make the appropriate structural decisions across the enterprise to improve efficiency and optimize our cost structure,” the company said in a prepared statement Friday. The cuts, effective March 31, amount to about 2% of Stellantis' U.S. workforce in engineering, technology and software, the statement said. Workers will get a separation package and transition help, the company said. “While we understand this is difficult news, these actions will better align resources while preserving the critical skills needed to protect our competitive advantage as we remain laser focused on implementing our EV product offensive,” the statement said. CEO Carlos Tavares repeatedly has said that electric vehicles cost 40% more to make than those that run on gasoline, and that the company will have to cut costs to make EVs affordable for the middle class. He has said the company is continually looking for ways to be more efficient. U.S. electric vehicle sales grew 47% last year to a record 1.19 million as EV market share rose from 5.8% in 2022 to 7.6%. But sales growth slowed toward the end of the year. In December, they rose 34%. Stellantis plans to launch 18 new electric vehicles this year, eight of those in North America, increasing its global EV offerings by 60%. But Tavares told reporters during earnings calls last month that “the job is not done” until prices on electric vehicles come down to the level of combustion engines — something that Chinese manufacturers are already able to achieve through lower labor costs. “The Chinese offensive is possibly the biggest risk that companies like Tesla and ourselves are facing right now,Â’Â’ Tavares told reporters. “We have to work very, very hard to make sure that we bring out consumers better offerings than the Chinese.