1959 Chevy Big Window Custom Pick Up 55,56,57,58,59,gmc on 2040-cars

Auto blog

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.

GM recalling 426,000 sedans over faulty transmission shift cable

General Motors is recalling some 426,240 sedans that may have a faulty transmission shift cable, according to a National Highway Traffic Safety Administration report this morning. The recall concerns a fault within four-speed automatic transmissions equipped on 2007-2010 Saturn Aura models, and 2008-2010 Chevrolet Malibu and Pontiac G6 models.
The report specifies that tabs on the transmission shift cable may fracture and separate. Such a fault could cause a discrepancy between the actual position of the transmission and the apparent position of the shift lever.
GM is currently working to notify owners of the vehicles in question, and dealers will check and replace shift cables free of charge. Scroll down to read the complete NHTSA report.

Why the Corvette's Performance Data Recorder can be illegal in some states

The Performance Data Recorder with Valet Mode available on the 2015 Chevrolet Corvette Stingray seems like a fantastic tool for many owners. Whether they are taking 720p video while lapping the track in their new 'Vette, or just want to protect their purchase from inconsiderate joyriders, the system offers a lot of functionality in one package. However, one of the PDR's features might get buyers in trouble with the law, and it has nothing to do with recording some illicit high-speed driving on a favorite back road. The problem hinges on the various state laws concerning a person's right to privacy.
According to a letter posted by Jalopnik, Chevy dealers are asking 2015 Corvette owners not to use the Valet Mode portion of the PDR because it records audio in the cabin, in addition to performance specs. That's a problem because privacy laws vary from state to state with some requiring just one side's consent to tape sound and others requiring all parties to agree. According Jalopnik, 15 states mandate everyone's permission beforehand, but it's not clear whether these numbers are up to date. (Actually, the report varies, saying 13 states in some places and 15 in a list.)
According to the letter, Chevy is already working on a software update for the near future to rectify the issue. It's possible that simply adding a warning to drivers and the ability to turn off the audio recording function in Valet Mode might solve the problem. Obviously, this doesn't preclude Corvette drivers from using the performance aspect of the PDR, and owners are free tape lap after lap at the track.