2011 Chevrolet Suburban Lt on 2040-cars

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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.

Train derailment leaves Jeep, GMC, Chevy pickups damaged in Nevada

An unfortunate train derailment is causing some inevitable delays for pickup truck customers west of Nevada. Yesterday morning, 33 train cars derailed in Lincoln County, and the cargo that was being transported consisted of new Jeep Gladiators and Wranglers along with Chevrolet Silverados and GMC Sierras, judging from the photos released by the Lincoln County Sheriff’s Office. The train derailment also caused the adjacent road to be closed, and local law enforcement recommends the area is to be avoided as long as it takes to clean it all up. In the photos, damaged Jeeps and other trucks sit either on their wheels or shiny-side-down as the incident is being assessed. Available information says there were thankfully no personal injuries, but itÂ’s not likely any of these trucks will end up in customer hands, even with a significant discount. Pre-registration transport damage, significant or not, has often resulted in scrapping complete vehicles so that manufacturers can steer clear of liability issues. Hooniverse.com, which also reported on the incident, notes a couple of interesting things. Firstly, the upended Gladiator seems to have a pretty sturdy support structure for its glasshouse, thanks to its new rollbars. Another matter is that the GM trucks, also pictured, wear discreet and temporary transport steel wheels instead of fancier items, perhaps to deter thieves eager to grab a shiny set from trucks on their way to the dealer. Still, itÂ’s a shame these vehicles could never fulfill their hauling purposes in the hands of new owners. Perhaps the manufacturers can at least use the damage for data-gathering purposes. Related Video:    

2016 Camaro gets most revealing tease yet

Chevrolet started its long teaser campaign for the 2016 Camaro by just revealing the exhaust manifold and front frame, but as time has passed the company has slowly unveiled more. In the latest glimpse ahead of the pony car's May 16 debut, we're actually getting to see the model's profile completely undisguised. As suggested by the recent tease of the rear and hood, the 2016 Camaro wears a sharper, more angular design than the current model. This is especially the case when you look at the taut lines making up the rear. Chevy claims that the new shape underwent 350 hours of wind tunnel tests to be able to generate left lift, improve cooling and reduce wind noise in the cabin. A smooth underbody pan is among the aerodynamic tweaks, and it runs from underneath the front grille to the center of the Camaro. Chevy asserts that all of the changes at the front help reduce lift by 30 percent. Related VIdeo: 2016 Camaro is all about the Aero Total aerodynamic lift improved by 30 percent for improved stability 2015-05-11 DETROIT – After 350 hours of wind tunnel testing – often 24 hours a day – the new Camaro will slip more easily through the wind, and drivers of the Camaro SS will experience a marked improvement in reduced aerodynamic lift. These changes illustrate the lengths the aerodynamics team went to for improved performance, stability, cooling and lower wind noise intrusion "The importance of aerodynamics increases exponentially as we increase vehicle performance," said Kirk Bennion, Exterior Design manager. "As engine output increases, we need more engine cooling. As acceleration and top speeds climb, we need to reduce lift for better high-speed stability. However, we cannot make any changes at the expense of increasing drag, which can hurt fuel economy. "To balance these different aerodynamic targets, we tested literally hundreds of changes on the new Camaro, millimeters at a time." For example, the initial design called for the lower grille bars to be set at a 20-degree angle to the horizon. However, after meticulous testing, the team improved engine-cooling airflow by 1 percent by shifting the angle to 13 degrees – a change that achieved the airflow target while maintaining the original grille design. And rather than a traditional front air dam to reduce aerodynamic lift, the team developed a flush belly pan that stretches from the front grille to the center of the vehicle.