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Introducing the 1965 Ford Mustang

Put on your space suits and diving bell helmets, for it's time to step into a time capsule. The 50th anniversary of a historic model, like, say, the Porsche 911 this year, is certain to bring flights of nostalgia. This historical trip with the 1965 Mustang, though - preliminary hype for next year's anniversary, we know - is a swell museum exhibit for anyone who enjoys bygone days of the automobile.
Lee Iaccoca gave a speech to motoring journalists on April 1, 1964 at the New York World's Fair to introduce a sporty car for younger drivers. His opening line: "Good morning, ladies and gentlemen. Welcome to one of the proudest moments of our lives." The company was so excited by what it had made that the Mustang was Ford's first "International Press Introduction," being introduced to some 2,000 journos around the world on the same day in the US and 11 European cities. Even through its difficult points, no one at the time could have known how well the Mustang would acquit that pride.
After the intro, the press drove Mustangs 750 miles from New York to Dearborn, MI, reading press kits that touted features like the "vertical, three-sectional taillights/turn signals," "170" six-cylinder engine with 101 horsepower and the available Cruise-O-Matic transmission.

eBay Find of the Day: Mk1 Ford GT40 with interesting history

You might expect a rare Ford GT40 to cross the block at some sort of prestigious auto auction from RM or Gooding, not show up on eBay for over $2 million. However, that's exactly what we have here. The seller claims the car is a late-build Mk1 GT40 from 1969, and it's currently owned by the director of the Hublot watch company in Switzerland.
According to the listing, GT40 #P1108 started life as Mk1 car that was built from factory spares in 1969 and was first sold in 1971. However, the auction is somewhat confusing. According to an image in its gallery, the vehicle was actually built from one of the seven spare Mk3 tubs when production of the iconic racers ended.
This GT40 was never built as a racecar - it lived on the streets its whole life. After assembly finished, it was sent to Germany and was eventually registered for the road. The first owner kept the car until 2005 and sold it with 7,300 miles on the odometer. The current owner bought it in 2012.

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.