Automakers like Kia, Honda, Toyota and Mercedes-Benz are trying to create a secret, private “justice” system as the only remedy for the Lemons they sell — it’s called “arbitration.” Arbitrators, who are paid by the automakers for their services, don’t have to follow the law and don’t have to consider the facts. Their decisions are…
Toyota Motor Corp. is paying $16 million over the safety recall of vehicles at risk for unintended acceleration and braking issues, Orange County prosecutors announced in April. Under the settlement, Toyota continues to deny all claims. Half the money will go to gang reduction and the rest to costs and future economic crime. This is…
Car loans are now lengthening again — up to 96 months now! In fact, 33% of new loans are now 72 months or LONGER. This is bad news for consumers as they will now be carrying finance costs for vehicles for virtually the entire useful life of the vehicle: 8 years of finance costs on…
The Federal Trade Commission (FTC) is proposing changes to the Used Car Buyers Guide required by the agency’s Used Car Rule. As explained by the FTC, “The Used Car Rule, formally known as the Used Motor Vehicle Trade Regulation Rule, has been in effect since 1985 and requires car dealers to display a window sticker,…
Toyota recalled millions of vehicles in 2009 and 2010 related to charges that throttles could jam in the open position, and has now announced a $1.1 billion settlement to resolve lawsuits alleging “unintended acceleration” in some Toyota and Lexus models. As reported in USA Today, Toyota “will create a fund for retrofitting 3.2 million Toyota…
The Pew Center on the States released a report examining the 100 largest financial institutions’ dispute resolution clauses for checking accounts. Of the account agreements reviewed, Pew found that 64 percent restricted dispute resolutions in one or more of the following ways: mandatory arbitration, class action bans, jury trial waivers, restrictions on damages, and shortened…
The Los Angeles Times recently ran an article discussing the fact that the estimated 250,000 cars flooded by Superstorm Sandy will drive up used-car prices across the nation. Nearly all of the consumers who lost their vehicles in the storm will need to quickly find replacements. As detailed in the article, this price increase…
Thousands of cars and trucks were damaged by Superstorm Sandy’s flood waters. Just as was seen with Hurricane Katrina, many of these vehicles may soon appear in the market via crooks who purchase the cars after they’ve been declared totaled by insurers, then clean and attempt to resell them. It can be very difficult to…
AmeriCredit Settlement is Final now! Checks for all persons who paid AmeriCredit (checks only refund money paid AFTER repossession) will be mailed between November 15 and November 20, 2012. If you want to know more information, or update your address, please contact Kurtzman Carson Consultants (kccllc.com) 866.381.9100. Thank you.
About a week ago I received an e-mail from Paypal entitled “Notice of Policy Updates.” Though the name doesn’t sound ominous, what the e-mail was really about is. The e-mail stated: “PayPal recently posted a new Policy Update which includes changes to the PayPal User Agreement. The update to the User Agreement is effective November…
