First National's consumer leasing department placed an ad in the local paper that pictured a car with the caption, "Sign a lease with us and pay only $275 per month." What other information must this ad have?

Question

Quizplus · Accepted Answer

According to the Truth in Lending Act and Regulation M, advertisements for consumer leases must disclose the total amount due at consummation or delivery, the number of payments required, and any required security deposit. Option A is only required for certain types of transactions, option C is not necessary in this case, and while option D is important, it is not required to be included in this particular type of ad.

First National's Consumer Leasing Department Placed an Ad in the Local