N.M. Code R. § 12.2.4.17 - ON APPROVED CREDIT
It is an unfair or deceptive trade practice for a dealer to advertise a specified finance rate and then have a customer sign a contract with a higher finance rate, unless the advertisement discloses the information specified in Section 18 [now 12.2.4.18 NMAC] for the loan program under which the low rate is offered and:
A. the customer declines to participate in
the program advertised; or
B. the
customer is not financially eligible for that loan program; or
C. the transaction is not eligible for the
loan program.
Notes
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No prior version found.