General Motors Co., is once again recalling cars that can leak oil and catch fire, potentially damaging garages and homes in some instances.

This is the third time GM has cited an issue like this and ordered a recall in seven years, reported the Associated Press. The problem was first identified in 2007 when 21 consumer complaints about engines fires in GM manufactured cars prompted the National Highway Traffic Safety Administration to launch an investigation. The probe discovered that three people were injured due to the fires, and that they generally occurred five to 15 minutes after the engines were turned off.

More than 200,000 U.S. cars were recalled in 2008 because they were found to have supercharged engines. GM then recalled 1.5 million additional cars in 2009, however, those additional cars weren't supercharged. Dealers replaced the spark plug wire channels, but documents filed with the government don't mention any repair of the oil leaks.

GM said it now needs to recall 1.4 million vehicles which date back to the 1997 model year because repairs from the first two recalls did not work. More than 1,300 cars still caught fire, despite being "fixed."

The latest recall, mainly in North America, includes: the 1997-2004 Pontiac Grand Prix and Buick Regal; the 2000-2004 Chevrolet Impala; the 1998 and 1999 Chevrolet Lumina and Oldsmobile Intrigue; and the 1998-2004 Chevrolet Monte Carlo. All have 3.8-liter V6 engines, according to NBC's Dallas affiliate NBC DFW.

The issue identified in the recalled vehicles is the valve cover gasket, which can degrade over time, allowing oil to seep out. This oil can seep out under hard braking, causing it to fall onto the exhaust manifold and catch fire. The flames can then spread to a plastic spark plug wire channel and the rest of the engine.

GM Spokesperson Alan Adler stated the recall is so large that it could impact GM's fourth-quarter earnings, but admitted that has yet to be determined since GM hasn't come up with a final fix.

"Since we have not decided on the remedy, we do not know whether the cost will result in a material charge to earnings," he said.