New Trade 1 Owner Auto Ac Great Transportation Warranrtee Drive It Home 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.

Mitsubishi turning Montero into crossover, Outlander Sport may get PHEV variant

Mitsubishi is getting more and more forthcoming about its plans for the US market. Among the tidbits revealed during a chat with Edmunds at the 2014 Chicago Auto Show, MMNA Executive Vice President Don Swearingen said that "We are committed to huge investments in capital as well as huge investments in R&D." The marquee product of that investment could be a new Montero for the 2017 or 2018 model year, suggestions of which were raised with the Concept GC-PHEV at the 2013 Tokyo Motor Show and again at the end of last year. Swearingen said the proposed SUV is a little smaller than a Ford Explorer and that dealers have seen a picture of it. A decision on whether to bring it to the US will be made later this year.
Below that, incremental improvements will come to every model over the next couple of years. The Outlander will get a facelift next year before a major restyle in 2016, when the Outlander PHEV is also expected to finally make it here. In 2015 the Outlander Sport will be fitted with larger engine and a new, quieter CVT returning better acceleration and fuel economy. In 2016 it will also be redesigned, and it will be equipped with the company's new telematics system that goes into the Outlander the following year.
At the other end of the line-up, the Mirage will get a big dose of love in two years. Detail changes like better fabric inside and outside-mirror indicators are slated for 2015, and in 2016 the bargain hatchback gets "a sleek, aerodynamic" reskin. The Mirage G4 sedan could join the US range if the Canadians turn out to be fans of it. The Lancer gets only meager attentions, while the i-MiEV gets the cold shoulder and won't change at all. We get the cold shoulder as far as a next-generation Evo - Swearingen didn't say a word about that, apparently.

2013 Pikes Peak Hill Climb, Practice Day 3

The third practice day of the 91st Pikes Peak International Hill Climb is done. While the other classes got running time on the middle and top sections of the course, qualifying times were set on the bottom section of the course for the Open, Open Wheel, Electric, Exhibition and Vintage classes.
Everyone managed to keep it on the black stuff today, Greg Tracy setting the fastest time ahead of Hiroshi Masuoka, both men driving the Mitsubishi MiEV Evolution II four-wheel-drive prototype. Not even half a second behind Masuoka came Nobuhiro "Monster" Tajima in his Monster Sport E-Runner, who has taken about 18 seconds off his time since the first practice day. Rod Millen was the fourth fastest on the day in his Toyota TMG EV POO2.
Topping the Open Wheel class was Clint Vahsholtz, followed by Donner Billingsley, Andy Figueroa and Rodney O'Maley. The only driver in that class not to be given a time today was Dan Novembre. Kenshiro Gushi took the Exhibition class today as his Lexus IS F CCS-R made it up the mountain in 4:27.248, followed by Sage Marie in the Honda CR-Z at 5:19.591. Simon Pagenaud and his Honda Odyssey weren't classified.