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8 fastest depreciating cars in America

Getting a new car is an amazing experience. The fresh new scent, the barely touched interior, the double digit miles on your odometer, and... the depreciation once it leaves the car dealers lot? Maybe not that last one. To save you from the hurt of a quickly depreciating new car, we collected 8 of the fastest depreciating cars in America. And here's a surprise, one of them is a Toyota. Learn more at Autoblog.com Cadillac Infiniti Jeep Kia Lincoln Toyota Autoblog Minute Videos Original Video jeep compass cadillac xts infiniti q50 camry q50

Toyota won't face recall for Corolla unintended acceleration

Toyota will not face a recall or further investigation into an alleged unintended acceleration problem in the 2006-2010 Corolla. Following months of analysis, the National Highway Traffic Safety Administration was unable to find a mechanical defect to cause the issue. If there had been a safety campaign to fix the vehicles, it could have affected 1.69 million cars, according to NHTSA. The incident that prompted the investigation occurred in June 2014 when a driver was pulling into a parking spot. The 2010 Corolla allegedly lurched forward under braking and hit an unoccupied Jeep, according to The Detroit News. No one was injured. The owners had the vehicle examined by a Toyota dealer, and it found no problems. They then filed a petition with NHTSA to open a deeper investigation. NHTSA took the family's Corolla and tested it for over 2,000 miles, according to The News. The agency couldn't replicate the problem and found the brakes were capable of keeping the vehicle from moving at full throttle. In their petition, the owners also submitted 143 other unique complaints of this issue in the Corolla, but the Feds found that most of these incidents were due to driver error where the gas or both pedals were accidentally pressed. After taking all of this into account, "NHTSA has concluded that further investigation of the issues raised by the petition is not warranted," the agency wrote in its report. You can read the entire, 23-page explanation for yourself in PDF format, here. INVESTIGATION Subject : Low-speed surging Date Investigation Opened: SEP 19, 2014 Date Investigation Closed: APR 29, 2015 NHTSA Action Number: DP14003 Component(s): VEHICLE SPEED CONTROL All Products Associated with this Investigation Vehicle Make Model Model Year(s) TOYOTA COROLLA 2006-2010 Details Manufacturer: Toyota Motor Corporation SUMMARY: The Agency received a petition on September 11, 2014 requesting an investigation into, "low-speed surging in the 2006-2010 Toyota Corolla [vehicles] with ETCS-i, in which the brakes fail to stop the vehicle in time to prevent a crash." NHTSA conducted a technical review of the material cited and provided by the petitioner, material Toyota submitted in response to a NHTSA formal request, interviews with complainants and manufacturer representatives, as well as the results of testing of the complaint vehicle.

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.