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Auto blog

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

Texas cops pull armed suspect from burning car

A high-speed chase through Fort Worth, Texas ended in dramatic fashion earlier this month when FWPD pulled armed burglary suspects from the burning wreckage of their escape vehicle. According to NBC DFW, Fort Worth police were dispatched to Avington Way on the evening of July 16 to investigate reports of a burglary. The burglary victim told police he had arrived home to find three individuals hauling his property out of his house. When he approached them, one of the suspects pointed a handgun at him and told him to stay back. Then all three suspects climbed into a silver Dodge Avenger and sped away. FWPD officers spotted the Avenger a short time later on Sycamore School Road and, after the car refused to pull over, the chase was on. Police chased the burglary suspects through the city at speeds approaching 100 mph until the Avenger blew a red light and was t-boned by an oncoming pickup at the intersection of California Parkway and James Avenue. As the pursuing officers closed in on the disabled car, it suddenly caught fire. One suspect bailed out and ran for it, but the remaining two were trapped inside with the flames quickly mounting. Despite the spreading fire and the threat of armed suspects in the vehicle, police officers rushed to pull the men from the wreck. The driver was removed easily, but the passenger was unconscious and trapped behind a crushed passenger door. The scene was caught on the officers' body cameras as they pried the door open with their bare hands. Eventually the officers got the semi-conscious man out of the passenger seat just as the car was completely engulfed in flames. "It was pretty dramatic. We recruit people that can think on the fly, think quickly, and perform under pressure," FWPD Sergeant Marc Povero told WFAA. All three suspects are facing charges for burglary, and the driver was charged with evading arrest. News Source: WFAA, NBC DFW Auto News Chevrolet Dodge Driving Safety Truck Police/Emergency Sedan fire car fire burglary

GM Ultium tech can scavenge heat from everywhere, even you

GM likes to give us tidbits about its Ultium platform from time to time, and today it’s telling us about the platformÂ’s ability to capture waste heat from the propulsion system. In addition to capturing from the propulsion system, it can also capture humidity from both inside and outside the vehicle and even from passengersÂ’ body heat. Yes, you, your family and/or your friends are a usable heat source as far as GM EVs are concerned. It then deploys the heat in an advantageous way. If at this point, youÂ’re screaming, "Heat pump!" youÂ’d be right. WeÂ’re talking about an elaborate heat pump system that GM is using for its Ultium-based vehicles. Every Ultium-based GM vehicle gets this system that is covered by 11 patents and four publications. The waste heat it collects is used in a number of ways, but its primary use is to heat the cabin quickly and efficiently. GM claims it can heat the cabin of its Ultium-based vehicles quicker than vehicles with traditional internal combustion engines. Plus, when put to use, GM claims that using the heat pump provides its EVs with up to 10% more range than theyÂ’d have without. Beyond heating the cabin, the heat pump is capable of putting waste heat to use by preheating the battery prior to charging so that you can charge quicker. The system can even cool the propulsion system in preparation for Watts to Freedom (WTF) launch control starts. GM says this was vital in helping the Hummer EV achieve its bonkers 0-60 mph time of about 3 seconds. “Having a ground-up EV architecture gives us the freedom to build in standard features like UltiumÂ’s energy recovery capabilities,” said Doug Parks, GM executive VP of global product development, purchasing and supply chain. “This helps us squeeze more efficiency, performance and overall customer benefit out of our EVs.” GM says itÂ’s been developing heat pump technology since the EV1 and its heat pump. This is the modern evolution of that technology, and GM says itÂ’s going to be implemented in every Ultium-based vehicle as a standard feature. Related video: Green Cadillac Chevrolet GM GMC Technology Electric Future Vehicles