“If the vehicle while being driven is steered to the right with sufficient lateral acceleration, a broken and loose lock bar may move toward the steering shaft. If the engagement hole in the shaft happens to line up at the specific time the broken lock bar has moved, this could cause the steering wheel lock bar to engage, locking the steering wheel, and increasing the risk of a crash,” Toyota said in a news release.

Toyota will contact the vehicle owners by mail and will replace the steering column to prevent any accidents. Although no injuries have resulted from the steering issue, it is not clear if three accidents that have been reported are as a result of the steering defect in the Avalon models. Toyota continues to investigate these accidents.

In addition to the Avalon sedan there will be 39,000 LX470 SUVs recalled. The 2003 to 2007 models are being recalled as a result of steering defects.  Toyota has received no reports of accidents resulting from steering defects in the LX470 models.

The US market is not the only country hit by the recall. Mieko Iwasaki, a Toyota spokesperson, said the company will recall 7,000 vehicles in Japan followed by recalls in US, Saudi Arabia and Canada.

Toyota has been plagued by recalls. In January 2010 the company dealt with the recall of the sticky gas pedals that spanned an array of vehicles including, RAV4, Corolla, Matrix, Avalon, Camry, Highlander, Tundra and Sequoia. This major recall put a nick in Toyota’s long standing reputation for quality. The company  was quick to note that their high end Prius, Lexus or Scion brands were not included as they had a different manufacturer make the pedals in these models.

Toyota [NYSE:TM] Issuing a Recall – Again was created by and is property of American Consumer News.

Toyota has been offering incentives for the month of March that offer zero-percent financing in order to boost sales since the chaos in January and February. The company took a hit with the stories of safety recalls and production stoppages due to the suspension of sales for the company’s top selling vehicles. The report of sales increases are said to be up 40 percent for the month when compared with the previous year but actual numbers will also be announced on Thursday.

When Toyota introduced the incentives for March, most of the other major automakers in the United States matched them. The expected extension will continue with zero-interest financing, discounted lease offers for at least an additional month, and Toyota may even make free maintenance a standard deal for all Toyota customers.

Toyota dealers across the country report that the incentive offers have been effective and many dealerships have been pressing the company to keep them going for longer than originally planned. Carter stated that Toyota would be updating the incentive programs but added that any changes would be small.

Since November, Toyota has had to recall 8.5 million cars and trucks around the world, with 6 million in the United States due to the acceleration-related issues. To date, Toyota reports it has repaired about 2 million of the recalled vehicles in the US, with more than 50,000 vehicles being repaired each day. Metal shims are being added to the accelerators and pedals are being shaved down to prevent them from sticking or getting stuck under the vehicle floor mats.

One the biggest March sellers are the RAV4 small SUVs. Sales on that Toyota model have more than tripled from February, most likely due to small families who enjoy the convenience of a car combined with an SUV. The company predicts more people will stop staying on the fence about buying a Toyota once the media frenzy has died down.

Toyota (NYSE: TM) Hints at Extended Sales Incentives was created by and is property of American Consumer News.

In an effort to get more gas guzzling automobiles off of the highway, banks and credit unions are focusing on environmentally sound vehicle loans and offering much lower interest rates for full-efficient or hybrid vehicles than they are for less environmentally-friendly vehicles. While there has always been some consistent lenders who have been offering better green auto loans for many years, it seems the growing trend for lenders is to improve on the rates for the greener vehicles. As the green vehicle choices also continue to grow, many more lenders are jumping on board to follow suit.

Qualifications Are Many
In order to qualify for a green loan, many lenders will require that the vehicle of choice must be certified as green by the Environmental Protection Agency. Once certification has been established, lenders will learn of their decreased rate of interest. Banks benefit from the offer because according to research, statistics show that customers who purchase fuel efficient cars have also are more consistent in meeting their payment obligations than other groups of borrowers. Less defaults mean more profit for the bank or credit union.

Longevity Of Loans
While it is still early in the game when it comes to green loans, it seems it is a promotional deal that will carry on for some time. More up and coming drivers may have a tendency to be more environmentally conscious than perhaps their parents are, meaning future sales of environmentally friendly vehicles are likely to climb within the next generation. Even with the current generation, sales records show that despite the slump in auto sales (until the Cash for Clunkers program was introduced) in the last two years, sales of hybrids have overall remained strong. People who experienced the personal financial negatives during the recession are also likely to stick with the vehicles that will save them money over the long term since gas prices have been once again rising.

Hunting a Green Loan
Finding a green loan will take some effort on your part. Amongst financial institutions, there is a difference between what constitutes a green vehicle. Some lenders will only consider the deal with hybrids while others rely on the information provided by the Environmental Protection Agency. The personal research will require that you contact several lenders to find out their policies on “green loans”. Not every lender offers the same discounts or the same criteria so it pays to ask specific questions about what kinds of vehicles qualify and in turn if that kind of vehicle meets your own financial needs.

Clunkers Are Out, Green Is Still In was created by and is property of American Consumer News.

Now we are faced with the decision of whether or not to consider purchasing vehicles from either one of these manufacturers. Questions come to mind that cause us to hesitate. Here are some of the concerns:

Support. The biggest question surrounds support of a vehicle that you purchase which might not have a network of dealers to provide support. The question looms large about honoring of warranties, too. Already, there are ramifications for those with pending lawsuits against the manufacturers. These are being swept away in the bankruptcy proceedings by Chrysler. With it goes the liability that should rest on the shoulders of the manufacturers.

Incredible buys. It is tempting to purchase a vehicle from either of these car-makers because of the deals that are being offered right now. In fact, there is a story circulating out of Arizona that a dealer there who is losing their dealer franchise is giving away new cars to those who buy one. There is no doubt that you can get a great buy, but at what cost down the road?

Resale value. The resale value will take an incredible hit if these two giants go down. That might not be a major issue if you are planning to keep the car long term, but might be a problem if you only keep your car for a few years.

Quality. Build quality is a common question in purchasing any vehicle, even if there are no financial problems. Both manufacturers have suspect lines that make it easy to leave them alone. But GM has some models that have shown remarkable improvement. The GMC Acadia, Chevy Traverse, Buick Enclave and Saturn Outlook are among them. Chrysler continues to struggle in this area.

You need to take these concepts into consideration when you look to make a purchase, and then ask if the good buys are really that good – especially when you consider the dramatic drop in value of the vehicle should the manufacturers go belly-up. Buying a car is an expensive proposition and you need to do your homework and go into it with sound financial reasons. If you do, then you will be less likely to choose the wrong vehicle for your needs.

4 Reasons to Question Buying a Vehicle from GM or Chrysler was created by and is property of American Consumer News.