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McLaren F1 GTR sells for record amount in Scottsdale

One of the most successful McLaren F1 GTR race cars sold at the Gooding & Co. Scottsdale auction over the weekend, bringing in $5.28 million. This 1997 F1 GTR is one of 10 longtail cars built for the 1997 FIA GT season, and it's one of only 28 made in GTR-competition specification.

Dramatic design on tap for next-generation model

Jaguar’s next-generation XJ luxury sedan will incorporate design features from the C-XF concept first shown at Detroit, AutoWeek has learned. Although prototypes captured by spy photographers are disguised with BMW-style grilles, the face of the new 2010 XJ will feature Jag’s gaping square grille and a curvaceous body with a rakish, coupelike rear window. The final XJ incorporates slim headlights with double-projector lenses that are very close in design to those revealed on the dramatic C-XF shown at the 2007 North American International Auto Show.

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.