The three bills approved today would significantly cut down on auto insurance scams by increasing penalties for those who commit or assist in the fraud and by giving more flexibility to insurance companies to prevent criminals from getting policies and continuing to commit auto fraud.

“Auto fraud is a very serious problem that costs lives, and costs New Yorkers millions of dollars,” Senate Republican Conference Leader Dean G. Skelos said. “The Senate has been passing bills to combat auto insurance for more than a decade, yet, the Assembly has not acted on them while the problem has only grown worse. It’s time the Assembly pass these bills so they can be signed into law, and consumers can save money by not having to pay the exorbitant rates that are caused by fraud.”

According to the National Insurance Crime Bureau (NICB), New York ranks among the top five states for fraudulent auto insurance claims.

Earlier this year, the New York City Council held a public hearing on auto insurance fraud. At the hearing, Brooklyn Assistant District Attorney Jeff Ferguson said 36 percent of insurance claims are either fraudulent or inflated and added that, “Some 22 percent of those claims were entirely bogus, while another 14 percent included inflated injuries and unnecessary treatments to gouge money from insurance companies.”

“New York is awash in a tsunami of insurance fraud. It is very encouraging to see the Senate take action on an issue that impacts so many New York State residents. The passage of these measures is critically necessary to stem the rampant fraud in the automobile no-fault system,” said John A. Corlett, Legislative Committee Chairman for AAA New York State, an association serving 2.7 million drivers in the state.

Senate action on the bills this year came shortly after the 10th anniversary of the tragic death of Alice Ross, a 71-year-old wife and grandmother who was killed as the result of a fraud-related, staged auto accident in Queens. One of the criminals drove into her car, causing her to lose control of her vehicle, strike a tree and die.

The Senate’s Anti-Auto Fraud Legislative Package includes the following:

• Bill (S3547), sponsored by Senator James Seward (R,C,I- Oneonta): makes it a crime to stage a motor vehicle accident with intent to commit insurance fraud. If a staged motor vehicle accident results in serious injury or death, the person who staged the accident could face a maximum sentence of up to 25 years.

“Staged accidents hike auto insurance rates for all and pose a serious public safety risk as well,” Senator Seward, Chairman of the Insurance Committee, said. “Women and elderly drivers are in particular danger. They are often targeted because they are less likely to be confrontational after an accident, making it easier for criminals to take advantage of them. The Senate has recognized the need for change for some time and the Assembly needs to join the effort so we can put these criminal enterprises out of business for good.”

According to the NICB, insurers across the country reported a 102-percent increase in suspected cases of staged auto accidents between 2008 and 2011.

• Bill (S3033), sponsored by Senator Skelos (R, Rockville Centre): makes it illegal to act as a “runner” who steers accident victims towards crooked doctors who bill Medicaid for unnecessary medical treatments. Runners are key members of auto fraud rings. Under this bill, runners and  their associates could face up to seven years in prison. (A.4597, sponsored by Assemblyman J.Gary Pretlow, D-Westchester.

“Runners and other street-level criminals that participate in these enterprises steal from all of us in the form of higher insurance premiums and fake medical billing,” Senator Skelos said. “We need to enact tough penalties that keep runners and other complicit individuals from taking advantage of New York’s no-fault system and profiting from their auto fraud-related crimes.”

• Bill (S1959A), sponsored by Senator Martin Golden (R-C, Brooklyn): allows insurance companies to retroactively cancel policies taken out by people who commit auto fraud. These criminals often take out policies and pay for them with bad checks or stolen credit cards just before they stage accidents. Under current law, insurance companies cannot cancel the policy and policyholders wind up paying for it through higher premiums. This bill would take that burden off honest consumers. (A3774A, sponsored by Assemblyman Carl Heastie, D-Bronx)

“Auto insurance fraud is costing New Yorkers millions of dollars, and it’s time that fair and honest members of our community stop paying for the crimes of others,” stated Senator Golden. “This legislation will give insurance companies the right to revoke insurance policies for those who try to game the system.”

This measure would bring New York in line with the other large no-fault states and remove any incentives for staged accidents. In fact, only seven other states (AZ, CO, KS, ME, MD, NC and SD) do not allow for retroactive cancellation. Innocent victims of uninsured drivers would be covered under their own policy or the Motor Vehicle Accident Indemnification Corporation.

Last year, the longest-running auto insurance rip-off scam in history was busted by federal and New York City authorities. Three dozen people, including doctors, lawyers and patients coached to fake injuries, are accused of stealing more than $279 million in accident benefits over five years. The ring allegedly exploited the state’s “no-fault” auto insurance law as their own giant state-sponsored ATM machine. In New York, vehicles registered in the state are required to carry insurance that lets drivers and passengers obtain up to $50,000 for accident injuries, regardless of fault.

The bills have been sent to the Assembly.

According to the European Automobile Manufacturers’ Association (ACEA), March was not a good month for vehicle sales in the EU market. Car sales dropped by more than 10 percent, a clear sign that the European recession is affecting what was once considered one of the best global markets for auto sales. This downturn is also affecting auto industry giants like General Motors, which has experienced heavy losses in its European operations. Some analysts have actually pondered whether GM should stay in Europe.

Although American consumers are flocking in great numbers to used car lots and showrooms across the U.S., European consumers are taking a more conservative approach. Rampant unemployment and tough fiscal measures in the EU are keeping drivers off the road. A drop in new car sales does not always translate into a boom for used car sales, but things are beginning to look up in Germany. Used car dealers are keeping price tags on their inventories under 15,000 euros, which has become a benchmark maximum price that German consumers are willing to pay for a quality used vehicle.

Used Car Sales in China Post Steady Gains

Strong new car sales can be expected in emerging economies such as Brazil, Russia, India, China, and South Africa, also known as the BRICS nations. In China, however, the burgeoning new middle class is more interested in shopping for pre-owned vehicles.

Used car sales in China have grown stronger than new auto sales in the last two years. Analysts are predicting this growth to continue, which means that China will be the world’s largest used car market by the end of this decade. Foreign automakers have been deeply interested in the Chinese new car market until now, but the solid growth in used car sales is prompting car manufacturers to establish themselves as a reliable brands for pre-owned vehicles. This means that GM could feasibly explore the used car market in China by becoming a dealer in that country.

Driving Costs Rise in the United States

Although the Great Recession appears to be over in the U.S., drivers are not taking any chances when it comes to controlling their automobile expenses. A widely accepted notion among used car buyers is that a pre-owned vehicle purchase eliminates the significant value depreciation associated with new car sales, but what about the cost of maintenance and driving for used cars?

A recent study released by the American Automobile Association (AAA) revealed that driving is getting more expensive each year in the U.S. The cost of driving and keeping up a vehicle in the United States is about $9,000 per year. This means that driving costs went up by approximately two percent between 2012 and 2013. This cost is the same for both new and pre-owned vehicles, which means that those drivers shopping for used cars are still ahead in the sense that their acquisition costs are appreciatively less.

High Demand for Used Cars

Amidst the ongoing used car boom, the Wall Street Journal compares pre-owned vehicles to gold. Used cars are not traditionally considered investments since they tend to lose their value a lot faster than precious metals or real estate. Under the right market conditions, however, used cars can command high prices. It all goes back to the Car Allowance Rebate System of 2009, more commonly known as “cash for clunkers.” Nearly 700,000 SUVs and other fuel-inefficient used cars were taken off American roads in exchange for incentives to purchase smaller, fuel-efficient vehicles.

With so many clunkers out of circulation, new car dealerships were able to move their inventories at the height of the Great Recession. Unemployment was rampant and vehicle financing was tight; these factors prompted automakers to play it safe by reducing their output. People started driving less and began taking better care of their cars.

Over time, the value of used cars appreciated to the levels experienced today. A particular used vehicle owner profiled by the Wall Street Journal sold his 13-year old Honda Accord to a dealer for about a quarter of the value of a 2013 model. That was a cash transaction that took a few days, and the dealer found the Accord by scouring online listings.

Tight credit and a more attractive fleet of used cars are behind the current boom, and what owners of used vehicles can take away from the Wall Street Journal article is that they have a potential investment in their driveways and garages. The prospects are even better for used car owners who would like a cash transaction that is easy, fast and convenient. Current market conditions are clearly competitive, and used car buyers are courting owners with better cash offers and improved customer service.

Small, fuel-efficient and hybrid vehicles = easy cash

Vehicle owners who traded their clunkers for fuel-efficient vehicles in 2009 stand to gain the most in the current used car boom. Dealerships that specialize in new cars are not seeing the same amount of trade-in vehicles that they had enjoyed since the 20th century. Car owners who realize the cash potential of their used vehicles are opting for generous amounts of cash.

Used car shoppers are looking for fuel-efficiency above all. Oil prices are likely to remain high, and thus shoppers are interested in used compact, economy and hybrid vehicles. Those who own vehicles matching these descriptions can quickly convert their used cars into a quick cash infusion. The rationale behind the sharp value appreciation for these pre-owned vehicles is that they are built to last. According to a recent Time magazine article, buyers are interested in saving between $20 to $80 per month on their financed auto purchases, and thus fuel-efficient used cars manufactured after 2007 are in very high demand.

More than 40 million used vehicles were sold in the United States in 2012, an increase of 4.4 percent over the previous year. CNW Research, a firm dedicated to tracking vehicle sales in the U.S., estimates that used car sales during the first month of 2013 were already four percent higher in a year-over-year basis, and current forecasts indicate that previously-owned vehicles will once again be in the minds of American car shoppers for the rest of the year.

The American Automobile Association (AAA) estimates the average age of cars currently driving on U.S. roads at 11 years. This is considerably higher than in 1995, when that average was 8.4 years. Total new and used car sales posted a 5-year record in 2012, but it is important to remember that car dealers are still trying to deal with the overall dearth of auto sales experienced back in 2009 when less than 10.5 million cars were sold during the worst period of the Great Recession.

One of the best-selling used vehicles in 2012 is bound to have a repeat performance in 2013 thanks to the rebound of the housing market. The Ford F-Series line of pick-up trucks were the most widely sold used vehicles in 2012, and many car shoppers who acquired them work in the residential construction and improvement industry. Vehicles made by Japanese automaker Suzuki are also expected to be in demand in the next few months due to their imminent exit from the American market.

Compact sedans and economy passenger vehicles are also doing quite well among used car shoppers. To this end, the Toyota Camry, Honda Civic, Ford Focus, and the Honda Accord clearly lead the way. These cars are highly sought-after by used car buyers due to their reliability and adequate performance even after tens of thousands of miles. In many parts of the U.S., American drivers are getting used to the sight of Toyota and Honda passenger vehicle models from the early years of the 21st century.

Used car shoppers in the U.S. have traditionally looked for low-mileage certified pre-owned (CPO) vehicles, but those are running low at the moment due to the ongoing trend of keeping their cars longer. High demand for used CPO deals is expected in 2013, and those cars will probably spend a little longer on the driveway since Americans are actually driving less these days.

In some parts of the country, used car sales are displacing new vehicles. A Ford dealer in Michigan is doubling its used car operations and building new lots to accommodate shoppers. Vehicle owners are also becoming savvier in terms of maintenance, and many are forging a partnership with their neighborhood auto shops to keep their cars optimally running longer.

(Long Island, N.Y.) Buffalo Metropolitan Credit Union is offering its members auto loan rates as low as 2.00% APR, reports Go Banking Rates in a recent rates study. Buffalo Metropolitan Credit Union is offering its special rate for vehicles purchased at Enterprise Car Sales on 6755 Transit Road only.

The credit union offers 100% auto financing (including taxes, title and warranties) on all vehicles that are current model year or the three previous model years. The rate, which is based on the borrower’s credit history, is subject to change after review.

Individuals interested joining Buffalo Metropolitan Credit Union can do so if they live, work, worship, attend school or volunteer in Erie County in New York.

For more information about Buffalo Metropolitan Credit Union and other local financial institutions in the state, visit www.NewYorkBankingRates.com.

To learn more about this rate, please click here.

Other Terms and Conditions may apply. Interest rates are based on the institution’s online published rates and may have changed since this offer was posted. Additionally, Go Banking Rates manually collects interest rates from local institutions to determine the most competitive offers in the area – featured banks and credit unions do not pay to be featured in rate alerts. Please contact the financial institution for the most recent rate updates and to review the terms of the offer.

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The first positive statistic to consider is the seasonally adjusted annual sales for 2012, which stands at approximately 15 million new cars as we head towards the end of year. The used car market is usually double the amount of new cars sold each year, and sales are expected to continue expanding in 2013. When President Barack Obama supported the idea of bailing out the auto industry, there was a lot of doubt about using up funds contributed by American taxpayers for the purpose of keeping automakers in business. That decision is beginning to make sense now.

Prices of vehicles sitting in lots of used car vehicles may not be as low as shoppers hope for. This is a matter of supply and demand; automakers were not very active from 2008 to 2010. Cars that did not roll off the assembly line during those years should be entering the used vehicle market now, but instead dealers have tried to patch up those shortages with the high number of repossessions that took place during those difficult times.

The demand for used cars has been healthier than in years past. They may be more expensive now, but they are still more affordable than many new cars. Many car shoppers also appreciate the extended credit opportunities offered by used car dealers, something that finance managers at new car lots are not always willing to make available.

As automakers increase production they are expected to make price concessions and offer discounts, thus putting pressure on used car sales. A senior analyst at Kelley Blue Book recently quoted by the Union-Times of San Diego said that used car prices have never been as high as they are now, but that is about to change thanks to manufacturers going into high production mode.

The average age of passenger vehicles on the roads of the U.S. these days is 11 years, another record high for the industry. Used car shoppers are looking not only for better prices but also cars that are not so old they could be labeled clunkers. A higher number of trade-ins will improve the range of options for used car shoppers, but it will be up to dealers to offer the price points that shoppers are looking for.

Used car giant CarMax made investors on Wall Street very happy with a generous holiday present. The company announced that used vehicle sales in the third quarter of the year climbed 16 percent, and their net income skyrocketed thanks to high prices at their lots. Investors responded positively to the news by purchasing shares of CarMax, which by the end of the day

“Mom! I heard a loud, scary noise, and then the engine literally blew apart!”

What had seemed to be a great bargain had actually been a flood-damaged vehicle from Hurricane Irene.

“I never thought that a hurricane vehicle would be this far away from where it happened. I should have done my homework,” cried Mrs. Drywater. “I’ll never make that mistake again.”

In the wake of Hurricane Sandy, hundreds of thousands of flood-damaged used vehicles will soon hit the used car market. These cars will be transported across the nation to anyone, and everyone, who will buy them. Unscrupulous used car dealerships will purchase these vehicles for pennies on the dollar, refurbish them, and then resell them to unwitting consumers.

“It’s buyer beware when it comes to the damaged used car market,” said Alec Gutierrez, director of operations in the automobile valuation department at Kelley Blue Book. “You never know what’s going to happen. It’s like a ticking bomb.”

Vehicles damaged by Hurricane Sandy are dangerous for a number of reasons. Water can damage the electrical and mechanical systems that control everything from turn signals to brakes and airbags. In some cases, the engine can literally blow up. Likewise, flood water contains harmful filth and chemicals which permeate the ventilation and seats, resulting in the buildup of bacteria and mold.

Vehicles damaged by Hurricane Sandy can receive clean titles in a number of ways. Most salvaged automobiles are restored and resold through nationwide auctions. Salvage dealerships are provided with a full disclosure of previous damage and a vehicle history report. But these dealers can buy a car then take it to a new state where this information is not maintained. They can obtain a clean title and resell it elsewhere. When the vehicle is resold, the new customer won’t have a clue about its history.

Dealers can also attempt to forge the real title or fake a real one, a process that is known as “title washing” in the shady underbelly of the used car industry. It is a little-known practice that leaves many drivers, like Mrs. Drywater, stranded and alone.

Honest used car dealerships will likely raise their prices as the demand for reliable cars escalates to unprecedented levels. The increase is expected to be temporary, primarily due to the overall shortage of used cars on the market today.

Used car buyers should thoroughly inspect a vehicle before making a purchase. Check the VIN number with CarFax and the National Registry. Look for evidence of discoloration in the fabric, carpet or upholstery, and see if any material has been replaced. Check for flaky, dry or brittle electrical wires, rust or soot in the engine bay or trunk, and an overly perfumed, mildewy, or musty smell overall.

“Good used cars will still be available after Hurricane Sandy,” says Gutierrez. “People just need to be wise about their purchases, and expect to pay a few hundred dollars more for the time being.”

In recent years, numerous used car dealerships have sprung up across the nation. Many of these dealerships are willing to give consumers a third, fourth, even tenth chance to buy a decent used car. Anyone who has a source of income, a reasonable down payment, and can make monthly payments will qualify for a good, reliable used car through these dealerships.

“I used to work at a dealership that helped lots of people get into nice, clean cars,” said Brian G. of Sacramento, California. “I loved my job. I saw people’s dreams come true every day. Sometimes people were so relieved to own a new car that they cried. That’s what made my job so rewarding.” Brian, who was recently unemployed due to personal illness, was a used car salesman for over 30 years.

It is important to note that Gov. Jerry Brown of California has recently signed into law two key pieces of legislation regarding “Buy Here, Pay Here” dealerships. According to AB1534 and AB1447, used dealerships in California are now required to provide a 30 day warranty on all used vehicles. Tracking devices are also prohibited.

It is anticipated that similar laws may be considered by other states in the future.

“I’m not worried about the new laws,” commented Jorge R., a private used car salesman and business owner from San Francisco. “I am already giving my customers a free warranty. I never track my cars. If my customers can’t pay, I tell them that it is no problem. They can bring the car back to me. I will not take them to court or destroy their credit. If they do better later, they can come back to me. We can make a deal then.”

According to a recent study conducted by AutoTrader.com and the NABD (National Alliance of Buy Here, Pay Here Dealers), 95% of all used dealerships nationwide include some type of warranty with every purchase. 89% of these warranties are for 90 days or more. Only a handful of used car dealerships use tracking devices on their vehicles.

For most Americans, transportation is a basic need that cannot be ignored. The “Buy Here, Pay Here” used car industry is a blessing for countless consumers who would otherwise be stranded without transportation. For consumers who follow the basic rules of financing, people with poor credit or low income can obtain reliable transportation while rebuilding their credit. With a low down payment, a reasonable income, a handshake and a promise to pay monthly payments, virtually anyone can be approved for a used car loan.

“I am so thankful for the car I found,” said Angela Wilson of Cincinnati, Ohio. “I am a single mom with two kids. I needed a good car. Nobody would finance me because I have a bad credit score. My income is about $2,000 a month, but that wasn’t good enough for the regular dealerships. But the “Buy Here, Pay Here” dealership down the street from me helped me out.”

Based on research conducted by CNW Marketing Research, more than 2.4 million vehicles were sold through “Buy Here, Pay Here” car lots last year, more than two times the number sold a decade ago. Likewise, there are 13,000 more car lots catering to the less-than-perfect, low income consumer than traditional dealerships. The FDIC indicates that approximately $80 billion per year is tied up in used car loans through these dealerships.

Sources say that the 2013 Dodge Dart will get 41 mpg with the Aero Package. Drivers might see this as an ironic situation. Optional extras usually drive down fuel efficiency numbers. Dodge says that the Aero modification is an implementation of “MultiAir Technology,” which apparently delivers the best combustion possible at any speed. This appears to largely be focused on increasing low engine rpm torque.

A 2-liter automatic Dart is only rated at 35 mpg highway. While this might still be a fairly decent figure, the efficiency drops down to 24 mpg in the city. A few commentators have criticized Dodge for including obsolete technology in the design. On the other hand, those same people weren’t so quick to criticize the Aero package. It seems that most of the criticisms focus on Dodge’s marketing campaigns as opposed to the vehicle itself.

Louvers in the grill are installed to control the rate of combustion on cars that feature the package. This is a huge boon to those who drive at a constant speed. A good deal of literature has been written extolling the virtues of hybrid cars. However, this package proves that the conventional engine is still going strong. Many drivers will probably opt for something like this if they feel that the boost in fuel economy is worth the money.

Optional extras are usually a waste. They reduce the efficiency of automobiles. Some drivers who are looking for purely practical rides will even opt for manual windows if they can. Each extra adds something more to the car that can go wrong. Dodge has a long way to go to convince levelheaded drivers that they need an additional extra. However, the Aero package is a good start towards developing a better class of conventional car.

Drivers may end up flocking to this sort of thing in droves. Considering the current state of the industry, Dodge might want to make a few changes to their marketing scheme. On the other hand, market figures could eventually prove that the critics were completely wrong the whole time.

The fuel economy is the most amazing feature of this car. The combined fuel economy actually exceeds 30 mpg. Highway economy exceeds 40 mpg. This is pretty impressive for what’s marketed as a sports car. However, Toyota had to make some cuts to ensure that the economy and cargo space were kept within acceptable limits.

When drivers take a look at Scion FR-S models on the lot, they’ll notice how limited their options really are. They can choose automatic or manual transmission, and some come with shift paddles on the steering wheel. There’s only one interior color, and there are only seven stock paint choices. Toyota was clearly thinking practicality when they designed the vehicle.

Many drivers will associate these changes with the austerity measures everyone seems to be taking these days. Everyone has been asked to tighten his or her belt a bit. However, one might ask if car companies should have really been doing this sort of thing all along. After all, a lot of optional extras are really unnecessary. While regular drivers might want a flashy car, they still look for reliability and sensible design.

Most people wouldn’t associate a four-cylinder boxer engine with a sports car, and Toyota is certainly taking a risk with this model. Hatchback vehicles are becoming popular, and these utility cars are sort of aimed at the same demographic as the Scion FR-S. However, that doesn’t mean that something this unique isn’t going to attract a following.

Plenty of safety features come standard in the car. Even though it’s not exactly a stereotypical soccer mom vehicle, Toyota might think to try and market some of the more mundane points of the Hachi-Roku’s design. They’re trying to prove that style and ordinary features can exist in the same body. Whether the 86 will make waves in the industry or sink to the bottom has yet to be seen, but drivers shouldn’t be surprised if other auto manufacturers try to bolster sales by offering similar vehicles.