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Logbook loans signal increasing debt risk
Mon, 23 Jun 2014CONSUMERS 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.
McLaren P1 development car in action on video
Thu, 24 Jan 2013McLaren has released video of the development version of the new P1 supercar undergoing testing ahead of the production reveal at Geneva. We did think, when we got an email from McLaren entitled ‘The next steps towards production’ on the new P1, that we might get some concrete details on exactly what the P1 will offer in the way of specification and performance. But no such luck.
Citroen Celebrates 80 Years Of The Traction Avant
Tue, 29 Apr 2014FRENCH car maker Citroen is celebrating 80 years of its iconic Traction Avant in 2014 with a series of events dedicated to the famous model. Launched in April 1934, the new model – originally christened 7A - revolutionised the automotive world with its low centre of gravity, all steel monocoque body, light weight and radical aerodynamics. As a result, the front-wheel-drive Traction Avant boasted standard-setting characteristics for handling and road holding.