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FCA issues warning on logbook loans
Fri, 06 Jun 2014VULNERABLE 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.
GM greenlights Chevy Spark, Orlando for production
Sun, 11 Jan 2009Two more fuel-sipping Chevrolets will be coming to North America in 2011. The Chevy Beat concept is now called the Spark, and along with the Orlando multi-purpose vehicle, has been greenlighted for production. They will be sold around the world, including in the United States.
Audi TT Clubsport Quattro concept car (2007): first official pictures
Wed, 16 May 2007By Tim Pollard First Official Pictures 16 May 2007 04:20 Audi TT Clubsport Quattro: the full lowdown Inspired by the Porsche 356, Audi has lopped the top off its TT Roadster to make this speedster version of its two-seater. The TT Clubsport Quattro, unveiled today in Austria, is a concept car to show how far the TT brand can be stretched, but officials freely admit that they are considering a limited production run. It's a TT like no other, squashed and squat, flattened to create a low-slung sports car for those living in dry climates where the occasional rain storm isn't a worry.