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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.

Mecum achieves record-setting auction in Dallas with 1967 Corvette L88 convertible

Mecum is no stranger to hosting million-dollar auctions all over the United States. Their most recent event in Dallas put collector Buddy Herin's 1967 Corvette L88 Convertible in the spotlight, making it one of the most successful auctions in Mecum history. Being just one of 20 produced during that year, this rare breed made history for its $3.2 million price tag, the highest price ever achieved for a Corvette at any auction.

All-new Audi TT (2014) for Geneva Motor Show

The all-new, third-generation Audi TT will make its debut at the 2014 Geneva Motor Show next month. These are the first official images and details. As you can see, the only images of the new TT released so far are design sketches, rather than photographs of the real thing.