Dealers with Vauxhall, Saab and Chevrolet franchises should benefit from GMAC’s new lending rules following its $5 billion cash injection from the US Treasury.

In return for the cash, the US government gets five million GMAC preferred shares paying 8% interest. 

GMAC originally provided loans only for people buying cars made by General Motors’ brands. Now, General Motors has a 49% stake in the finance group, with the remainder held by Cerberus, owner of Chrysler Jeep Dodge.

GMAC said GM would now offer 0% loans and other financing incentives through other lenders for two years, with GMAC being added to the choice after that period. 

Also, GMAC will not have to provide lease financing, from which many providers withdrew after high mid-2008 petrol prices in the US hit most vehicle residual values.