Excellent Condition West Coast Chevy, No Rust, 350 Cid, 4-bbl, 87,262.1 Orig Mi 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.

Use this PowerPoint when convincing your spouse to let you buy a Corvette

When you are not the one in charge of the purse strings, creativity is a must when trying to get the string-holder to bankroll that next shiny object you just can't live without.
When I was a kid, I decided that life wasn't worth living if it weren't in pursuit of owning a GMC Typhoon. My 12-year-old self crafted a fiscal strategy that, when combined with my offer of a 49-percent share of ownership in the car in return for my parents' contribution of 80-percent of the purchase price, would see me behind the wheel of a Typhoon by the time I hit college. They walked away from the negotiating table and, the economic climate of the 8th grade being what it was at the time, another partner wasn't found before the Typhoon was discontinued.
Roy El-Rayes, however, has succeeded where 12-year-old me failed, and he did it by using the sort of professionalism that only a PowerPoint presentation can provide, along with some humor and bold-faced flattery.

Chevy might've pulled out of NASCAR if it weren't for new Gen 6 car

We've been on the fence with NASCAR for some time now. On one hand, it's some of the closest racing anywhere in motorsports, with actual passing and door-handle-to-door-handle action as a matter of course. But on the other, it's become template racing - a personality-driven sport more about the drivers than any sort of loyalty to a particular automaker. The Car Of Tomorrow format really rammed that message home, with a racecar's identity coming down to little more than headlamp stickers slapped on the nose. That's not necessarily a bad thing in and of itself, but we've wondered for some time what's in it for the automakers, who pay big money to stay in a series that has had little increasingly little do with street car sales, let alone innovation.
Apparently General Motors was beginning to wonder the same thing. In a new ESPN report, Rick Hendrick, team owner of Hendrick Motorsports, suggests that GM would have seriously considered leaving NASCAR if it wasn't for the move away from the COT to the new Gen 6 racer. According to Hendrick, GM North America boss Mark Reuss spearheaded the charge away from the 2007 COT and toward a racecar with clearer automaker ties - cars like the new Chevrolet SS racer shown above. Learn more about the fight for a closer-to-production look in the ESPN story at the link.
Now, if we could just get more rear-wheel drive V8 coupes into showrooms....