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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.

Watch a Volvo find its own parking spot

Cars that can navigate into a preselected parking spot have been around for a few years now, and they've proven that under the right conditions they can pull it off successfully most of the time. But what about a car that finds its own parking spot just after you step out? Volvo is about to show a car that can do just that, and it manages this feat without an array of sensors on the roof that make the car look like a military aircraft.

Fisker begins Karma production in Finland

Fisker Automotive Inc. has begun making the $88,000 Karma plug-in car, aiming to get its first production vehicles to U.S. and European dealers by next month.