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FCA issues warning on logbook loans

VULNERABLE people who use their car as security to take out a loan are finding themselves squeezed even harder financially and even threatened, the City regulator has found. The Financial Conduct Authority warned it will put firms offering logbook loans out of action if they do not "dramatically" improve their standards, after finding evidence of poor behaviour including little or no affordability checks being carried out and some applicants being encouraged to manipulate details of their income. It said lenders are failing to properly spell out exactly how expensive such debts will be, with the true cost often masked by an emphasis on "low" weekly repayments and key terms and conditions buried in small print.

Catalytic converter thefts double in three years

Associated Press Thefts of catalytic converters from cars have more than doubled in less than three years, according to an investigation by the BBC. Data compiled from 40 police regions across the UK reveal that in 2012 a total of 8,947 catalytic converters thefts were reported, compared to 3,957 similar cases recorded in 2010. On Bing: see pictures of catalytic convertersStreet sweepers to mine UK roads for precious metals A car’s catalytic converter reduces its harmful exhaust gas emissions by initiating a chemical process to neutralise many toxic substances emitted from the engine.

Corvette Stingray wins North American Car of the Year

The 2014 Detroit Motor Show has got off to a cracking start for General Motors, with the company winning TWO top North American awards. With the new Chevrolet Corvette Stingray scooping the North American Car of the Year award, and the Chevrolet Silverado bringing home the Truck of the Year honour, it’s the first time GM has swept the board since 2007. New 2014 Chevrolet Corvette Stingray in pictures at Detroit Motor Show The best new cars coming in 2014: Chevrolet C7 Corvette Stingray The awards – which are based on the thoughts of a panel of automotive critics – are amongst the most respected in the industry and are said to have a direct influence on a car’s fortunes.