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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

Jeff Gordon to pace Indy 500 in Corvette Z06

The Chevrolet Corvette has served as pace car for the Indianapolis 500 more than any other vehicle in the century-long history of the race. And this year it'll be at the front of the pack again in the form of the Corvette Z06 driven by Jeff Gordon. With 650 horsepower on tap, the Z06 is among the fastest, most powerful cars ever to serve as pace car for the Greatest Spectacle in Racing – right up there, at any rate, with the ZR1 that led the field in 2012 and the Viper GTS from 1996. For this year's race, it's been decked out in white with special graphics, strobe lights and a red interior. The 99th running of the race will mark the 13th time a Corvette has been tapped for the honor. Gordon, a name better known to NASCAR fans, but certainly no stranger to the track, will handle driving duties. The four-time Sprint Cup champion has won the Brickyard 400 no less than five times, including the very first time it was held back in '94. No driver has won at Indy more than Gordon – a record he shares with Michael Schumacher, who won the US Grand Prix there five times. (AJ Foyt, Al Unser and Rick Mears share the record for Indy 500 victories at four apiece, in case you were wondering.) It'll be a busy Sunday for Gordon, who will also be competing in the Coca-Cola 600 at Charlotte on the same day. Jeff Gordon to Drive Corvette Z06 Indy 500 Pace Car Five-time Brickyard winner will lead pack for 99th running of the Indianapolis 500 2015-04-29 INDIANAPOLIS – Five-time Brickyard 400 winner and four-time NASCAR Sprint Cup champion Jeff Gordon will drive a Corvette Z06 pace car for the 99th running of the Indianapolis 500 mile race, May 24 at the Indianapolis Motor Speedway. It is the 13th time a Corvette has served as the official pace car, dating to 1978, and the 26th time a Chevrolet has led the pack for "The Greatest Spectacle in Racing." Corvette has served as the pace car more than any other vehicle in the race's history. Gordon, who grew up in nearby Pittsboro, Ind., is no stranger to the Indianapolis Motor Speedway. In 1994 he won the inaugural Brickyard 400 – the first-ever NASCAR race at the Brickyard, and has visited the winner's circle there four more times. That makes him one of only two five-time winners at Indy in any series. Michael Schumacher won five Formula One races there. "It's great to have Jeff Gordon serve as this year's pace car driver," said Jim Campbell, Chevrolet U.S. vice president of performance vehicles and motorsports.

Woodward Dream Cruise Photo Gallery | Classics and American muscle

The 2022 running of the Woodward Dream Cruise just went down, and we were there from morning to evening drinking in the sweet sights and pre-emissions exhaust fumes. Yes, it’s a little smelly on Woodward Ave. this time of year. Just like always, the Dream Cruise invites all comers to cruise their machines on Woodward from Ferndale, MI to Pontiac, MI. Everybody is invited, but the original intent of the Dream Cruise was to highlight classic American muscle cars. YouÂ’ll see plenty of those in our mega gallery above, but weÂ’ve sprinkled it with a bunch of other vehicle types, such as modern muscle and other intriguing American vehicles. Similar to years past, though, sometimes the classics arenÂ’t the most entertaining thing to look at on Woodward. ThatÂ’s why weÂ’ll have other mega galleries coming soon, highlighting the weird cars and (great) dogs of the Cruise, all the imports and exotics you can imagine and a special one for all the trucks of Woodward — perhaps even more so than in years past, the truck population on Dream Cruise day was quite high. Click through above to see all the classics you wouldÂ’ve seen had you been roadside on the day of the cruise. And if you missed this yearÂ’s event, make sure you check out what happens next year. You wonÂ’t be alone, as itÂ’s estimated that over 1 million people attend the Dream Cruise to either watch from the side of the road or to sit in the most glorious traffic jam in the world. Related video Featured Gallery 2022 Woodward Dream Cruise classics and American muscle View 160 Photos Design/Style Buick Cadillac Chevrolet Chrysler Dodge Ford GM GMC Hummer Jeep Pontiac RAM Classics Woodward Dream Cruise