NADA is pleased to announce the release today of a comprehensive Driven guide on the federal disclosure requirements and limitations applicable to consumer leasing transactions. Federal Consumer Leasing Act Requirements, prepared for NADA by Hudson Cook consumer leasing expert Thomas Buiteweg, is a companion guide to NADA’s 2018 Guide to Federal Truth In Lending Requirements. The new member publication explains in detail the federal disclosures that must be presented to lessees; limitations that apply to charges for early termination, excess wear and mileage, late payments and doc fees applicable to a lessee’s exercise of a purchase option; the disclosure of prior credit or lease balances; many other technical requirements; and the consequences for noncompliance.

Mike Alford
Chairman, Regulatory Affairs Committee