In terms of advertising, what must be included if any triggering terms are mentioned?

When advertising loans that include triggering terms, such as specific amounts of down payment or monthly payments, federal regulations require that certain additional information must be disclosed to ensure that consumers are not misled. The inclusion of the amount of down payment, terms of repayment, and the Annual Percentage Rate (APR) provides a clearer picture of the loan's terms and overall cost to the borrower. This legislative requirement aims to promote transparency and help consumers make informed decisions.

For instance, mentioning a specific down payment without clarifying the repayment terms and APR could lead to misunderstandings about the true cost of financing. By including all these elements, the advertiser ensures compliance with the Truth in Lending Act (TILA) and offers potential borrowers the information they need to compare loan products effectively and understand their financial obligations. This comprehensive approach to disclosure protects consumers and fosters trust in the borrowing process.