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Logbook loans signal increasing debt risk

CONSUMERS 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.

More executive upheaval as GM changes CFO

Chris Liddell, the onetime executive hotshot hired from Microsoft and rumored to be a candidate for CEO, is leaving General Motors on April 1. The 52-year-old will be replaced by Dan Ammann, 38, who is GM’s treasurer. Liddell oversaw GM’s historic return to the stock market last year after its 2009 bankruptcy.

Crash test verdict on Corsa and S-Max

By Phil McNamara Motor Industry 25 August 2006 00:01 The new Vauxhall Corsa – set to be one of Britain's best-selling cars – has scored a maximum five stars for occupant safety, in the Euro NCAP crash tests. Ford's new S-Max also got full marks. But their pedestrian protection scores proved far less impressive, when the results of the latest tests were announced today (Friday 25).