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Logbook loans signal increasing debt risk

CONSUMERS who buy second-hand cars are at risk of unwittingly inheriting debts taken out by the previous owner that could end up with their vehicle being seized, Citizens' Advice is warning. The charity said one in five people who reported a problem to it about “logbook loans”, where a person places their car as security against a loan, ended up having their car repossessed – despite not being the one who borrowed the money. Citizens' Advice warned someone who buys a car which is still the subject of an outstanding logbook loan taken out by a previous owner could end up being chased for the debt – leaving them with the choice of making the repayments or having their vehicle repossessed.

2013 McLaren F1 – more details emerge

A render of the 2013 McLaren F1 / 799 (click for full size photo) It’s more than two years since we revealed that McLaren are planning on building a McLaren F1 road car for the 21st century. Planned to bring game-changing performance to the hypercar market, it will be McLaren’s halo car, sitting above the 458 Italia-bashing MP4-12C, and the yet-to-come McLaren which is aimed at the Porsche 911 and Audi R8. What exactly McLaren are planning with the new F1 – which may be called the McLaren 799 – is still hidden deep in the minds and computers of McLaren’s elite.

Tesla Model X SUV delayed until 2015

Tesla has revealed that its Model X SUV – based on the Model S – will be delayed until 2015 so Tesla can concentrate on Model S sales. Despite plenty of cynicism in the car industry that Tesla could deliver their Model S saloon at all, never mind at a reasonable cost, Tesla has confounded its critics by not only launching the Model S, but seemingly taking as many orders as it can handle. On the face of it, that’s not surprising.