Back to Regulation M Introduction

Early Termination and Additional Disclosures

Early Termination Consumers are notified by a new disclosures of the potential early termination charges. The ACVL suggested most of the language contained in the disclosure including the lead sentence: "You may have to pay a substantial amount if you end this lease early." Excessive wear and use The mileage limit and charge for excess miles is contained in this disclosure along with a notice of the consumer's potential responsibility for excess wear charges.

Exhibit 4

Purchase option at end of lease term The availability and, if a purchase option is offered, the purchase price of the vehicle, is disclosed to make quick comparisons of different lease offers easier. Other important terms Finally, the consumer is notified of other important lease disclosures to look for in the agreement.