Preheat oven to 325 degrees. Generously grease and flour a 10-cup bundt pan.

In a large mixing bowl, mix oil, sugar and eggs until well blended.

In a medium mixing bowl, whisk together flour, baking soda, cinnamon, nutmeg and salt. Add flour mixture to oil mixture and stir until smooth. Add vanilla.

Stir in apples, pecans and toffee bits. Pour batter into prepared pan. Bake for 50-60 minutes, or until toothpick inserted in center comes out clean.

Remove to wire rack to cool for 10 minutes before turning out of pan to cool completely.

To make caramel sauce: In a medium saucepan, melt butter over low heat. Stir in brown sugar and cream Bring to a boil over low heat, then reduce to a simmer, stirring constantly. Boil for 10 minutes, stirring constantly. Remove from heat and stir in vanilla. Cool for 10-15 minutes before pouring over cake. Sprinkle with additional toffee bits.