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2016 Chevy Colorado Duramax makes 369 lb-ft for $3,730 premium

Since announcing the new Chevrolet Colorado in late 2013, there has been absolutely no secret that the 2.8-liter Duramax diesel would wind up under the hood of the midsize pickup truck for the 2016 model year. It has been a long wait for those wanting the oil-burner, but thankfully, the anticipation is nearly at an end. Chevy is finally officially unleashing details about the four-cylinder, which churns out 181 horsepower and 369 pound-feet of torque. The diesel is available in both LT and Z71 Crew Cab trims, and there's the choice of two- or four-wheel drive. All come with a six-speed automatic gearbox with a standard automatic-locking rear differential. An electronically controlled two-speed transfer case comes on four-wheel drive models, as well. The Z82 trailering package also arrives on all of the Duramax pickups and includes an exclusive integrated trailer brake controller. The first shipment of diesels arrives at dealers this fall with a price of $3,730 on top of a comparably equipped version with the 3.6-liter V6. Customers opting for the Duramax are getting more capability from the Colorado. With a 7,700-pound tow rating on two-wheel drive examples (7,600 pounds with four-wheel drive), drivers can haul 600-700 pounds more behind the truck than its petrol V6 counterpart. Fuel economy numbers haven't been announced yet, but are expected to top the gasoline versions. The engine is also B20 bio-diesel compatible. Beyond being just a good hauler, Chevy is throwing cutting-edge tech into these models. For example, this is the company's first application of a Centrifugal Pendulum Vibration Absorber on the transmission's torque converter. The device is a dampener that cancels out torsional vibration from the engine for a more comfortable ride for occupants. There's also a driver selectable exhaust brake system that uses engine compression to help slow down the truck and reduce brake wear. You can read more about the nuts and bolts of the diesel in Chevy's press release below. Chevrolet Introduces Colorado Duramax Diesel All-new turbo-diesel expands lineup with unparalleled capability, efficiency DETROIT – The fastest-selling truck in the market now offers an available turbo-diesel engine. The 2016 Chevrolet Colorado Duramax diesel takes midsize truck capability and efficiency to unprecedented levels.

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

Fernando Alonso fails to qualify as Pagenaud takes Indy pole

Former Formula One world champion Fernando Alonso narrowly failed to qualify for the Indianapolis 500 on Sunday as France's Simon Pagenaud took pole position for the May 26 race. Kyle Kaiser beat out Alonso for the final spot in the 33-car field when he finished third, one spot ahead of the Spaniard, in a six-car shootout that determined the Indy 500's last row. The 23-year-old Kaiser, the last driver to take the track, averaged 227.372 mph for his four laps, a mere 0.019 mph ahead of Alonso's 227.353 mph average in the McLaren-prepared Chevrolet. "We never surrendered. We kept trying," Alonso, 37, told reporters after a tough week at the famed speedway. The Spaniard crashed his Chevrolet in practice on Wednesday and missed nearly two full days of practice while a back-up car was prepared. Then he tried five times on Saturday to qualify, puncturing a tire on the first attempt. Alonso had a completely new set up for Sunday's shootout but could not get the speed he needed to qualify. "I think the car felt better today than what we had yesterday. (So I am) happy with things we tried," he told reporters before learning he had not qualified. Pagenaud had a four-lap average speed of 229.992 mph to become the first Frenchman to take the pole since Rene Thomas in 1919. "It's just amazing," Pagenaud, who last week won the IndyCar Grand Prix on the track's road course, told NBC Sports. "Obviously last week was amazing, but this is even more special." He will be joined by Ed Carpenter (229.889) and Spencer Pigot (229.826) on the front row. But the Cinderella story belonged to Kaiser, the 33rd qualifier. "I don't think I can wrap my mind around what we just did," he said after bumping Alonso from the field. "This is all the credit to the team. They've been working non-stop trying to get this car ready for us and they did everything that we needed to get into this field." (Reporting by Gene Cherry in Raleigh, North Carolina; Editing by Ken Ferris)Related Video: Motorsports Chevrolet McLaren Racing Vehicles F1 IndyCar