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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.

Camaro convertible to pace Indy 500

The 2011 Chevrolet Camaro SS convertible will serve as the official pace car for the 100th Indianapolis 500. This is the 22nd Chevrolet and the seventh Camaro to pace the Indy 500. The special-edition car goes to auction at Barrett-Jackson in Scottsdale, Ariz., on Jan.

BMW's Project-i will build 'premium vehicles'

By Ben Whitworth Motor Industry 05 March 2009 16:02 BMW’s much vaunted Project-i will adopt a radical new approach to mass transport for growing urban populations – but only for those that can afford it. 'These vehicles will be premium vehicles,' Project-i leader Dr Ulrich Kranz told CAR at the Geneva motor show. 'They will not be Tata Nano rivals – no way!