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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.

Volvo launches next-gen Sensus Connect infotainment system [w/videos]

To borrow a line from another automaker, the Volvo S60 has the power to surprise - it's likely not top of mind for most entry-level luxury sedan buyers, but it's good enough that it probably should be. There's long been one pretty serious chink in its armor, though, and that goes for the company's entire model line: infotainment. The Swedish marque's offerings just haven't been that feature-rich, but Volvo is working to improve things with its updated Sensus Connect, a suite of functions just launched at this week's CES in Las Vegas.
The new system updates center on cloud-based connectivity advancements that include a novel Park&Pay feature that allows drivers to search for parking and pay for their space from the comfort of their car. Other functions that show off the diversity of Sensus Connect include embedded, Pandora-streaming internet radio, Wikipedia, remote start via smart phone, dealer appointment booking, destination attraction searches and an available wifi hotspot.
All of this increased functionality sounds like a big step in the right direction, and Volvo is noting it has refreshed the system's interface with "graphically themed center and driver displays" along with improved voice control and text-to-speech capabilities.

2014 Volvo V60 to start at $35,300*

When Volvo announced US pricing for its updated 2014 model line, it left one vital model out of the equation: that would be the V60, the long-roofed version of the S60 sedan and the long-awaited replacement for the V70 wagon that left our shores nearly four years ago. But if you look at the V60's product page now, you'll see a starting MSRP listed at $35,300. That represents a $2,900 premium over the S60 and an $800 premium over the larger (but older) XC70 softroader.
Delve further into the online configuration tool and you'll see that the price is applied, naturally, to the base turbocharged five-cylinder, front-drive model. Go for the Premier or Platinum trims and the price begins to climb, as it does with the addition of all-wheel drive, the turbo six engine and the R-Design spec. You'll also need to account for the *$915 destination charge. Tick all the boxes and you'll soon be looking at a price tag of over $50,000. Order books open with the start of the new year.