Recently stolen piece of angling equipment in fast car (3,3)
I believe the answer is:
hot rod
'fast car' is the definition.
(hot rod can mean a car modified to be faster)
'recently stolen piece of angling equipment' is the wordplay.
'recently stolen' becomes 'hot' (I've seen this in another clue).
'piece of angling equipment' becomes 'rod' (fishing rod).
'hot'+'rod'='HOT ROD'
'in' acts as a link.
(Other definitions for hot rod that I've seen before include "Car modified for extra power and speed" , "Car radically modified to increase performance" , "Souped-up vehicle" , "Car with souped-up engine" , "fast vehicle" .)