Of the top 10 industries that received the most consumer complaints last year, three were auto related.

New-car dealers, used-car dealers and auto service and repair shops registered almost 54,000 complaints in North America, according to the Better Business Bureau. They were the No. 4, 7 and 10th-most complaint-ridden industries of 2009. It’s enough to make anyone blanch at the thought of buying a new car

TO CONTINUE READING THIS ARTICLE, CLICK THIS LINK TO FORBES:  Car Dealer Scams To Avoid – Forbes.com.

The new fuel efficiency standards, issued by the Transportation Department and the Environmental Protection Agency as the result of a May 2009 deal with the auto industry, represent a peaceful end to a contentious legal battle over how to regulate tailpipe emissions. At a time when it is unclear whether Congress will pass climate legislation this year, the new rules also mark the White House’s most significant achievement yet in addressing global warming.

By model year 2016 vehicles must get an average of 35.5 miles per gallon. The requirements will add as much as $985 to a vehicle’s initial cost, according to EPA estimates, but buyers will save about $4,000 on fuel over the life of the car, administration officials said.

TO CONTINUE READING THIS ARTICLE, CLICK THIS LINK FOR THE WASHINGTON POST:  http://www.washingtonpost.com/wp-dyn/content/article/2010/04/01/AR2010040101412.html

Today, “if you have a job, and there’s equity in the loan…that’s it,” says Ed Gorham, director of the finance department at Planet Honda, one of the biggest Honda dealers on the East Coast. In many cases, customers don’t need down payments, he says. People with FICO credit scores as low as 400 are getting loans.

Right now, GMAC Financial Services is offering 0% interest loans and discounted leases to help GM and Chrysler boost sluggish sales. GMAC is offering a $499 a month, 39-month lease on the Cadillac CTS with $1,000 down—or nothing down for customers already driving vehicles leased from GM. (Beware: The penalty for driving more than 39,000 miles is 20-cents a mile.)

Buying, Leasing Deals

Honda Motor Co. is offering aggressive lease deals—pushing leasing to more than half of current deals. Among the Honda offers is a $0 down, 36-month lease on a 2010 Honda Civic LX with payments of $159 a month. Luxury car makers are pushing to accelerate the rebound in demand. BMW dealers are promoting $2,500 discounts on certain models as part of a “spring drive” event. Lexus dealers are promoting a $359 a month, 36-month lease deal for the Lexus IS, with the first month’s payment waived. (Fine print on one dealer’s Web site cautions the deal is for people with “top tier” credit.)

TO CONTINUE READING THIS ARTICLE,  CLICK THIS LINK FOR THE WALL STREET JOURNAL: Why It’s Easier to Buy a Car Now – WSJ.com.

The president of Toyota, Akio Toyoda, will take “full responsibility” when he appears before the House Committee on Oversight and Government Reform, and, in his prepared statement, will assure lawmakers that the carmaker is moving to fix the problems and regain the trust of consumers.

“My name is on every car,” Mr. Toyoda said in the statement. “You have my personal commitment that Toyota will work vigorously and unceasingly to restore the trust of our customers.”

TO CONTINUE READING THIS STORY, CLICK THIS LINK FOR THE NEW YORK TIMES: Toyota’s President Offers ‘Full Responsibility’ – NYTimes.com.

Company President Akio Toyoda made the recall announcement at a press conference Tuesday in Tokyo.

“We have decided to recall as we regard safety for our customers as our foremost priority,” Toyoda said.

The recall is of the 2010 Prius gasoline-electric hybrid that went on sale last year. Also being recalled are two other hybrids — the Lexus HS250h sedan and the Sai, which is sold only in Japan, the AP said.

In the U.S., Toyota will recall 133,000 Prius cars and 14,500 Lexus HS250h vehicles. Nearly 53,000 Priuses are also being recalled in Europe. Toyota is suspending production of the Sai and Lexus HS250h in Japan until updated software for those models is ready.

There have been about 200 complaints in Japan and the U.S. about a delay when brakes in the Prius — the world’s best-selling hybrid car — were pressed in cold conditions and on some bumpy roads. The delay doesn’t indicate a brake failure. The company says the problem can be fixed in 40 minutes with new software that oversees the controls of the antilock brakes.

If drivers experience a delayed reaction when depressing the brakes, they should keep pressing, according to Toyota and Japan’s transport ministry.

Prius repairs will start in Japan on Wednesday. U.S. owners will start receiving letters about the recall next week.

FOR CONTINUATION OF THIS ARTICLE, CLICK THIS LINK FOR USA TODAY: Toyota recalls 2010 Prius worldwide – USATODAY.com.

Reporting from Tokyo and Washington – Calling the huge recall of Toyota Motor Corp. vehicles a “moment of crisis” for the world’s largest automaker, the company’s head formally apologized Friday and said he personally would lead a special committee to improve quality control.

“I am deeply sorry about the inconvenience and concern caused to our customers and others,” a grim Akio Toyoda, the company’s president and chief executive, said at a hastily called news conference at the company’s headquarters in Nagoya, Japan. “We, the ones supposed to relate to people the attractiveness of automobiles have instead imparted on them worry. I regret this more than anything.”

But Toyoda, the grandson of the legendary automaker's founder, did not announce a recall of the company’s popular Prius hybrid, which is the focus of government investigations in Japan and the United States for brake problems. The vehicles also have other possible glitches, including headlights that suddenly go dark, The Times reported Friday.

Some had expected Toyota to announce a recall of about 270,000 Priuses on Friday, which company officials had said was under consideration. But Toyoda said a decision had not been reached. He promised one as soon as possible.

A Prius recall would add to the automaker's mounting troubles. Toyota has recalled more than 9 million vehicles because of problems that can cause sudden acceleration.

FOR CONTINUATION OF THIS ARTICLE, CLICK THIS LINK FOR THE LOS ANGELES TIMES: Akio Toyoda: Toyota chief apologizes for recalls – latimes.com.

You’re right to be worried — your auto-insurance premiums are likely to skyrocket when your teenage son starts driving. But a few key moves can help you cut costs significantly.

1. Raise your comprehensive and collision deductibles to at least $1,000, which lowers your premiums and prevents you from filing small claims that could jeopardize a claims-free discount. Add some more money to your emergency fund so you’ll have the cash to pay the deductible if anyone in your family does have an accident.

2. Drop collision and comprehensive coverage entirely on older cars that are worth little more than the deductible. You may be paying more in premiums than you could ever get back from the insurer, even if the car is totaled. Look up your car’s value on Kelley Blue Book .

FOR CONTINUATION OF THIS ARTICLE, CLICK THIS LINK FOR KIPLINGER.COM: 8 Ways to Cut Insurance Costs for Teen Drivers – Kiplinger.com.

Toyota Motor Corp. is temporarily halting sales and production of eight models, including the top-selling Camry and Corolla, that it has recalled because the accelerator pedal can stick and cause unwanted acceleration.

The automaker announced the recall of 2.3 million cars and trucks late last week. That came just months after Toyota launched its largest-ever recall — 4.3 million vehicles — because floor mats could trap the gas pedal and also cause sudden acceleration.

Today, Toyota informed its roughly 1,200 U.S. dealers to immediately halt sales of both new and used models of the affected vehicles: the 2009 to 2010 RAV4, 2009 to 2010 Corolla, 2009 to 2010 Matrix, 2005 to 2010 Avalon, 2010 Highlander, 2007 to 2010 Tundra and 2008 to 2010 Sequoia. It also is halting sales of certain 2007 to 2010 Camry sedans, depending on where those vehicles were manufactured.

FOR CONTINUATION OF THIS ARTICLE, CLICK THIS LINK FOR THE LOS ANGELES TIMES: Toyota temporarily stops selling eight models covered by recall – latimes.com.

Start by taking a careful look at your budget.

Even if you have a car in mind, determine your budget before venturing onto a dealer’s lot. Using the home budget calculator, assess your monthly bills and what you need to save to determine how much car you can afford. Try not spend more than 20 percent of your monthly household income on all the family’s cars, including the costs to operate them.

FOR CONTINUATION OF THIS ARTICLE, CLICK THIS LINK FOR BANKRATE.COM 10 car buying hints for 2010.

1. “When I say this is a good policy, I mean it’s good for me.”

FOR CONTINUATION OF THIS ARTICLE, CLICK THIS LINK FOR SMART MONTY: 10 Things Your Auto Insurer Won’t Tell You at SmartMoney.com.