UPDATE TUESDAY: Two men have been charged over a spate of burglaries and a car fire.
The men, aged in their 20s, are alleged to have committed thefts at businesses and schools in Bendigo at the weekend.
The men are also alleged to have set fire to a stolen Subaru in Long Gully on Monday morning.
Police found the burning car about 6.30am.
A witness reported hearing three loud explosions and seeing an orange glow as the car burnt.
The men will face Bendigo Magistrates Court Tuesday.
MONDAY: POLICE investigators are examining a burnt-out car dumped in Long Gully on Monday morning.
The Subaru, which is believed to have been stolen, was set on fire on Keenes Road about 6.30am.
Two Victorian licence plates, and what appears to be a broken safe, were found in bushland about 30 metres from the car.
The vehicle may be connected to other crimes in the area.
Nearby resident Linda Epworth said she heard three loud bangs and saw trees “glowing” orange from the flames.
“We were sitting there and we had no idea what was going on,” she said.
“When we heard the bangs the police were already there.
“A second later the CFA was there.”
Firefighters extinguished the blaze, with foam visible around the vehicle.
The bonnet and boot of the vehicle were pried open.
Ms Epworth said she had been too scared to leave her home while the vehicle was burning.
“We thought it was safer to stay back,” she said.
“It’s a nice area but it’s a good area for people to dump rubbish.
“We went for a walk through the bush at the weekend and there was rubbish everywhere.”
Neighbours called Ms Epworth with concerns a shed on her property had caught fire.
Investigators from Bendigo Police scoured the area near the car on Monday morning.
The car, which was gutted by the fire, was towed from the scene.
Officers continue to investigate the incident and have spoken to several people over the matter.
It's not known how the fire started, or in which part of the vehicle.
Anyone with information should call Bendigo Police on 5448 1300 or Crime Stoppers on 1800 333 000, or visit Crime Stoppers online.