GMAC UK will make car finance advertising more clear

Wed, 02 Apr 2008



The Office of Fair Trading has reached an agreement with UK car finance company GMAC UK. The OFT and GMAC agreed that the latter would alter their credit advertising, to make it easier for consumers to understand.

Vehicle finance ads placed in newspapers and on the Saab website were found to be in breach of regulations by the OFT. Regulations of this nature are put in place to make sure that all advertising in truthful and transparent, as well as providing customers with a balanced picture of the product being offered.

GMAC reportedly did not entirely agree with the OFT regarding all issues, but suffice to say the advertising will be changed to fulfil a list of criteria. These include: showing all relevant financial information, giving typical APR, and further regulations.

According to reports, the OFT is also approaching other car finance companies for their advertising.
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