Which three details are required when a dealer advertises a lease of a motor vehicle with a payment amount?

When advertising a lease of a motor vehicle with a specified payment amount, it is essential to provide clear and comprehensive information to potential customers. The inclusion of the amount or percentage of the down payment, terms of repayment, and annual percentage rate ensures transparency and allows consumers to make informed decisions.

The amount or percentage of the down payment indicates how much upfront payment is necessary to initiate the lease. It is also crucial to present the terms of repayment, which outline the duration of the lease and the payment schedule, helping consumers understand their financial commitments. Additionally, including the annual percentage rate (APR) is vital as it reflects the cost of financing over the course of the lease, thereby equipping consumers with a better understanding of the overall cost of the lease agreement.

By providing all three of these details, dealers not only comply with regulatory requirements but also foster trust with their customers, as they are not disguising any fees or costs that might later lead to confusion or dissatisfaction. This comprehensive approach to advertising fosters an environment of transparency and accountability in the motor vehicle leasing process.