361-D:2 Information to be Included With Solicitation. –
I. Any solicitation to enter into a lease agreement which contains references to the amount of any payment, the number of payments, a statement of any required downpayment or that no payment is required, shall also include a clear and conspicuous statement of all of the following:
(a) A statement that the transaction advertised is a lease.
(b) If the lease is an open end lease, the value placed on the motor vehicle at the inception of the lease and the maximum for which the lessee could be held liable at the end of the lease period, or the method for calculating the lessee's liability.
(c) The amount, if any, required by the lessor as a security deposit, advance periodic payment, or other prepayment.
(d) The term of the lease expressed in months, the amounts and due dates or periods of scheduled payments, and the total amount of periodic payments.
(e) A statement of whether or not the lessee has the option to purchase the leased motor vehicle and at what price and time. The method of determining the price may be substituted for disclosure of the price.
II. No solicitation may state that a specific lease of any motor vehicle at specific amounts or terms is available unless the lessor usually and customarily leases or will lease that motor vehicle at those amounts or terms.
III. Failure to comply with the provisions of this section shall not affect the validity of the leasing agreement. There shall be no liability on the part of any owner or personnel of any advertising medium for any violation of this section.
IV. A lessor shall be deemed to have complied with the requirements of this section if the solicitation includes a clear and conspicuous disclosure of a toll-free telephone number that consumers may use to obtain a free copy of the information required to be disclosed by this section.