Consumer Leasing Act
A lease ad is any message inviting, offering or announcing to the public the availability of a consumer lease. It can be in the form of oral, visual, print or electronic media.
The Consumer Leasing Act is a federal law requiring lease agreements to include specific terms like a statement of the number of lease payments plus their dollar amounts, penalties for not paying on the due date and whether a lump sum of payment is due at the end of the agreement.
Tags: consumer leasing act