Polaris 2006 05 Fusion Dragon 600ho Shift Switchback Iq(steering Tie Rod Center) on 2040-parts.com

Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

Arash AF10

Arash Motors is the latest in a succession of recently established low-volume manufacturers, and has unveiled their first car, the AF10, at the British Motor Show in London. Since the company's conception in March this year, the team has been working continuously on the AF10, with styling done in-house by Arash Farboud Designs. The company is based in Cambridge, UK, with testing of the bespoke chassis done at the nearby Millbrooke circuit.

New cars 'cheaper to insure' for young drivers

NEW CARS are actually cheaper for young drivers to insure than old bangers, insurance broker Be Wiser has claimed. Figures from the company reveal that the cheapest car for youngsters to insure at the moment is a Volkswagen Up, which costs around £3,000 per year based on a 17-year-old driver in a large city. The same customer looking to insure a 20-year-old Ford Fiesta would be facing a bill of almost £4,000, with insurance premiums even higher in some parts of the country.