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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.

12-year-old golfer wins Volvo for hole-in-one [w/video]

Some people just have all of the luck. Natasha Oon, a 12-year-old girl in Malaysia, was recently attending the 40th RSGC Ladies Amateur Open Championship at the Royal Selangor Golf Club with her parents. On a whim, she teed up a shot with her eight iron and scored a hole-in-one. That would have been impressive for a girl her age by any standards, but she didn't see the sign that said making the shot also won her a new Volvo XC60 T5. Not a bad prize for a tween who won't be allowed to drive for at least a few years.
So what does any good 12-year-old do with a CUV? Give it to her parents of course. According to website Paultan, she plans on giving the crossover to her mom and told her, "this is the car that you will use to drive me to school every day." Scroll down to watch video of Oon receiving the oversized key to the Volvo with her family and a brief interview with her about what she was thinking when she found out she won a car for sinking a fantastic shot.

Volvo working to allow groceries delivered to your car, even when you aren't there

Volvo cites research showing that 60 percent of online shoppers had problems with their deliveries in 2013, and that missed first deliveries cost the industry roughly one billion euros ($1.37B US) in re-delivery costs, as impetus for its "Roam Delivery Service" that delivers packages to your car. The service uses Volvo On Call and Sensus Connect car-connectivity and telematics apps already installed in vehicles, and a digital key with a timed window of operation.
The car owner is notified if delivery to or pickup from the car would be the best option, which they then have the option to approve or decline. If approved, the position of the vehicle is sent to the delivery driver, as well as a digital key that can open the car. Once the delivery has been made, the owner is notified and the digital key is erased, leaving only a time stamp to record when the car was opened and then locked.
The technology will be shown to the public at the Mobile World Congress later this month. There's a video and a press release below with more on the details.