According to the federal Truth in Lending Act (Regulation M – Consumer leasing):
If advertising contains one of the following triggering terms, then it must include the five additional terms listed below.
Triggering terms:
- The amount of any payment
- A statement of any capitalized cost reduction or other payment (or that no payment is required) prior to or at consummation of the lease, or by delivery if delivery occurs after the signing of the lease.
Additional terms:
- That the advertised transaction is a lease.
- Total amount due prior to signing the lease or by delivery if delivery occurs after the lease signing.
- The number, amounts and due dates or periods of scheduled payments.
- A statement of whether or not a security deposit is required.
- A statement that an extra charge may be imposed at the end of the lease when the lessee’s liability, if any, is based on the difference between the residual value of the leased property and its realized value at the end of the lease term.