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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.

Camaro-based Trans Am SE Bandit Edition borrows Burt Reynolds

For some reason, modifying modern Chevrolet Camaros into the lurching, reincarnated shells of the Pontiac brand is still a thing. If you're the perverse sort that likes this kind of thing, you should check out the latest product from the Trans Am Depot, which comes complete with an endorsement from the star of Smokey and the Bandit, Burt Reynolds. Yes, the new Trans Am SE Bandit Edition has been signed and endorsed by the man himself, but what's important here is not the signature on the dash, it's the bits of Camaro that have been modified. Aesthetically, that means a Bandit-and-Frog-approved set of T-tops, a front-opening hood with a very large, prominent shaker scoop, an equally large and prominent screaming chicken, and Trans Am-inspired front and rear fascias. And naturally, Burt Reynolds' signature adorns the dash. There are plenty of reminders in the cabin about this car's Hollywood inspiration, too. Bandit decals can be found on the front headrests and center console lid, there are chicken wings on the Camaro-spec plastic door inserts, and the black-and-tan color scheme matches nicely with the exterior look. And power? Well, Sheriff Buford T. Justice would have a lot more trouble keeping up with this Trans Am than he did with the original. The 7.4-liter LSX V8 has been paired with a 2.9-liter supercharger which is good for 840 horsepower. It's fast and loud, and even if you can't get behind the look (we can't), at least this Camaro-in-Trans Am's clothing can impress with its performance. The Bandit Edition is limited to just 77 units with prices starting around $115,000. You can check out the official video from Trans Am Depot, which comes with a decent helping of Burt Reynolds, up top. Related Video:

Which of these five plug-ins should win the 2017 Green Car of the Year?

It's going to be a competitive race for the 2017 Green Car Of The Year. With a minivan in the running for the first time in ages, the five finalists announced by Green Car Journal today include five very different plug-in vehicles. As Ron Cogan, the editor and publisher of Green Car Journal, said in a statement, "electrification is now considered by most automakers an essential technology for current and future high-efficiency models." Let's check out the list: Toyota Prius Prime, the updated plug-in version of the world's best-selling hybrid. Chevy Bolt, GM's all-new entry into the long-range EV game. Chrysler Pacifica, a family hauler with the ability to go 30 miles on electric power. Kia Optima. The nomination is for the full line-up, but really the hybrid and plug-in hybrid models are the green stars here. BMW 330e iPerformance, one of the automaker's many new plug-in hybrids that bring battery power to models outside the i sub-brand. Green Car Journal will announce the winners at the Los Angeles Auto Show on November 17th, along with some, "other green transportation announcements," whatever that means. Last year, the winner was the 2016 Chevy Volt, the first model to snatch up two wins. Which do you think should win this year? Related Video: News Source: Green Car JournalImage Credit: REUTERS/Kevork Djansezian Green LA Auto Show BMW Chevrolet Chrysler Kia Toyota Chevy Bolt chrysler pacifica green car of the year toyota prius prime bmw 330e