National Traffic Safety and Motor Vehicle Information and Cost Savings Authorization Act of 1987

National Traffic Safety and Motor Vehicle Information and Cost Savings Authorization Act of 1987 - Title I: Traffic and Motor Vehicle Safety - Amends the National Traffic and Motor Vehicle Safety Act of 1966 to authorize the Secretary of Transportation to direct the manufacturer of a defective motor vehicle or motor vehicle part to send a second notification if the Secretary determines that the first notification sent by such manufacturer has not resulted in an adequate number of vehicles (or items of equipment) being returned for remedy.

Requires any lessor who receives notification of a defective motor vehicle part pertaining to any leased motor vehicle to send a copy of such notice to the lessee.

Provides that a dealer may sell or lease a motor vehicle (or motor vehicle item) for which a defect notice has been received only if: (1) the defect or failure to comply has been remedied before delivery under sale or lease; or (2) an enforcement order has been set aside or restrained.