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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

Corvette Stingray Convertible images mysteriously appear on web, so we add our own

It was inevitable that we'd see the 2014 Chevrolet Corvette Stingray topless at some point, but that didn't make us any less interested when a pair of supposedly leaked official images showed up on theautoinsiderblog.com last week. We posted them on our Facebook page, but held off reporting on them here until we could get a little more information.
Those images, which feature a dark red car on a sterile black studio background, supposedly first appeared on the website of diecast model maker Maisto. A Chevrolet spokesman has been reported saying that they are "not official images released by Chevrolet PR," which isn't a denial they're the real deal, but neither is it a confirmation.
Close examination of the photos suggest they could be official shots of the Corvette Stingray Convertible, and while some have doubted their authenticity due to a lack of vents (which were seen on the C7s that debuted in Detroit last week), it could be that the images are of a base model car without the Z51 package that doesn't require the extra venting and cooling.

2016 Chevy Volt wins Green Car of the Year

The award ceremony for the 2016 Green Car Of The Year announcement at the LA Auto Show today started with a joke video by juror Jay Leno. Showing of a restored and refurbished 100-year-old Detroit Electric EV, Leno said that while there were a lot of different powertrains in the running this year, he didn't expect any German diesels to win. Yuk yuk. There was no doubt that Leno was right; there were no diesels in the finalist's circle. The winner this year was the new, second-generation Chevy Volt, a plug-in hybrid with a 53-mile electric range and 106 MPGe. The first-gen car won the title five years ago, making the Volt the first model to be crowned Green Car Of The Yera more than once. The other finalists this year were the Audi A3 E-Tron, the new Toyota Prius, the Hyundai Sonata, and the Honda Civic. One of Green Car Journal's most important factors in deciding the winner is widespread availability, said Green Car Journal editor Ron Cogan as he announced the award. Qualifying vehicles also have to be on sale by January 1st of the award year (in this case, 2016). For the record, AutoblogGreen readers also picked the Volt to win in our poll a few months ago with 42 percent of the vote. Second place was the Prius, with 21 percent. Earlier this year, Green Car Journal had to strip the awards from two diesel vehicles, the 2009 VW Jetta TDI, which won in 2008, and the 2010 Audi A3 TDI, the 2010 winner. We enjoyed our seat time in the new Volt, and you can read our review here. Related Video: