The Internet of Things (IoT) is the internetworking of various physical and logical devices to provide users with various services via applications. In recent years, IoT has grown very rapidly and it spans across various devices. Among IoT family, the connected cars technology is one of the newer and more popular products. With the advancement in connectivity, the connected cars will be the next smart device which intends to make life easier by expanding the communication between motor vehicles, personal devices, and other smart devices used in homes, businesses and various industries. The main purpose of the connected cars is to increase the safety, convenience and reduce the cost of owning and maintaining the vehicles. At the same time, smart vehicles often reduce the undesirable impact on the environment. The motivating factor behind this idea is the technology that is evolving daily by scientist, engineers and innovators from all over the world. This enables advance sensors to detect pedestrians, obstructions, unusual situations, and other vehicles. In conjunction designers are modifying the hardware and software of the vehicles to improve the safety of the driver, passengers, and the public. It is anticipated that with the use of connected cars, accident rates would reduce considerably. This is mainly due to the advanced communication between connected cars which takes place in real time. Therefore, the method of communication is an important aspect of connected cars. Nevertheless, like any other new technology, there are security vulnerabilities associated with connected cars. The purpose of this paper is to review various technological advances in connected cars, analyze the security issues including existing solutions. In addition, we propose a security framework that cam improve the security of the communication in connected cars.