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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

Hennessey Mammoth is a Ram 1500 TRX turned three-row SUV

The 2021 Ram 1500 TRX is a thoroughly incredible machine that's great for pounding across dunes and flying over jumps, and you can even bring along some friends and their gear along for the ride. But what if you want to bring more friends along. Well, Hennessey Performance has the solution in the Mammoth SUV. What it is, is a TRX turned into a three-row SUV. It's something that Hennessey has experience with, as nearly a decade ago, it started converting some of its upgraded Ford F-150 Raptors (called VelociRaptors after being tuned) into custom SUVs. Like those Fords, the Mammoth will get a custom roof, rear pillars, glass and unified interior to provide more covered space. The company will also replace the second-row bench with captain's chairs and add a third row with a folding bench seat. While Hennessey could probably simply sell these TRX SUVs just with the body modification, the company will also add additional performance. An upgraded supercharger, pulleys, fuel injectors, engine calibration, intake and high-flow catalytic converters bring output to an absurd 1,012 horsepower and 969 pound-feet of torque. Hennessey claims it will get to 60 mph in 3.2 seconds and through the quarter-mile in 11.4. The company also raises the truck an extra 2.5 inches and fits a custom off-road bumper with LED lights and 20-inch wheels with 35-inch tires. The whole thing will cost $375,000. That's no small amount, but there's a lot of custom work in the vehicle. Plus, it's exclusive, with only 20 units slated to be produced. If it's what you're looking for, the company is taking orders now. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

US Postal Service going Ram ProMaster

Selling cars, vans, and trucks one at a time is business good enough to keep most automakers solvent, but fleet sales are where it's really at. Take this latest order placed by the United States Postal Service from Fiat Chrysler Automobiles, for example. The order calls for a massive fleet of 9,113 units of the 2016 Ram ProMaster 2500 cargo van. That number may only be a drop in the bucket compared to the 190,000 vehicles the Postal Service operates across the country, but it's still a pretty large order to place all at once. "While each and every one of our fleet customers is important to us, none command our attention like USPS," said FCA's fleet operations director Tim Kuniskis. "I can't think of another more mission-critical service than literally delivering the goods of our nation on a daily basis, and we are honored that USPS chose the Ram ProMaster to help them meet their challenging duty." Naturally, each of the 9,113 Ram vans will be specially equipped for the purpose of collecting and delivering the mail and packages. They'll also be fitted with 3.6-liter Pentastar V6 engines driving 280 horsepower and 260 pound-feet of torque through six-speed automatic transmissions to the front wheels. It's the latter feature which the post office may find the most compelling, helping the vans get traction regardless of the weather. You know, given the whole "neither snow nor rain nor heat nor gloom of night" thing that the service seeks to uphold. Related Video: FCA US LLC TO SUPPLY 9,113 NEW 2016 RAM PROMASTER VANS TO U.S. POSTAL SERVICE - Ram Commercial to supply 9,113 new 2016 Ram ProMaster 2500 cargo vans to U.S. Postal Service - Ram ProMaster 2500 is a highly customizable van designed to exceed the demands of commercial customers - Customized outfitting for national mail and package delivery service - Segment exclusive front-wheel-drive system enhances all-weather operation September 29, 2015 , Auburn Hills, Mich. - FCA US LLC announced today that it will supply 9,113 new 2016 Ram ProMaster 2500 cargo vans to the United States Postal Service (USPS). The 2016 Ram ProMaster 2500 cargo van selected by USPS features the award-winning, gasoline-fueled 3.6-liter Pentastar V-6 engine rated at 280-horsepower output with peak torque of 260 lb.-ft. The engine is paired with a proven, smooth-shifting, six-speed automatic transmission, upgraded to accommodate the ProMaster's exceptional cargo-hauling capability.