GMAC UK has agreed to change its credit advertising following discussions with the Office of Fair Trading about its clarity.
Finance advertisements for Saab placed by Luton-based GMAC UK in newspapers were considered in breach of the Consumer Credit Advertisement Regulations and the Consumer Credit Act under Section 46.
Although GMAC UK and the OFT did not reach an agreement over the issues raised, the finance company is co-operating for future adverts.
These include showing all relevant items of financial information in its advertising, giving a single typical APR and ensure that if there are a range of APRs that the highest and lowest have equal prominence.
The typical APR is one at or below which an advertiser reasonably expects credit to be provided to at least 66% of the business arising from the advert.