F. Down Payments, Credit Terms.
(1) The amount of the down payment, or the balance after the down payment, may not be stated in such a manner as to permit the impression that it is the selling price of the vehicle.
(2) The statement "no money down", or other similar phrases, means that the advertiser will deliver the vehicle, so described, to the purchaser without any initial payment or other initial obligation in any manner other than negotiating a lien contract for the advertised purchase price.
(3) The phrases "no finance charge", "no carrying charge", or expressions of similar phrases, may not be used when there is any type of a charge for financed transactions.
(4) All advertising shall comply with Regulation Z of the Federal Truth in Lending Act and Federal Trade Commission Act.
(5) Advertisements which offer special annual percentage rate financing shall disclose any special conditions or terms which shall be met before the annual percentage rate applies to preclude deception.
G. Discounts, Savings, Rebates, Trade-In Allowances.
(1) Advertisement statements which offer discounts, savings, rebates, and guaranteed trades shall:
(a) Include the original price as well as the full delivered cash price, which the customer shall pay, except for taxes and title fees; and
(b) In the case of new vehicles, the full delivered cash price shall include any dealer processing charge and freight charge, unless the dealer clearly and conspicuously discloses the amount of these charges in the advertisement as required by Transportation Article, §15-311.1, Annotated Code of Maryland.
(2) The dealer may give representative examples in ads when various savings, discounts, rebates, and similar offers are made.
(3) A specific price may not be stated in an advertisement as an offer for a trade-in, if the price so stated is contingent upon the condition, model, or age of the prospective buyer vehicles, without so stating in the advertisement. The use of phrases such as "up to" and "as much as" may not be considered as adequate explanation.
(4) When a purchase order or agreement includes the amount of trade-in allowance, subject to official acceptance and appraisal, that condition shall be clearly and conspicuously stated on the order or agreement. If the order, including the trade-in allowance, has been officially accepted, the trade-in allowance may not be decreased upon re-appraisal unless the condition of the vehicle has been changed due to accident, failure of or damage to major components, or removal or substitution of equipment or accessories.
(1) The amount of the down payment, or the balance after the down payment, may not be stated in such a manner as to permit the impression that it is the selling price of the vehicle.
(2) The statement "no money down", or other similar phrases, means that the advertiser will deliver the vehicle, so described, to the purchaser without any initial payment or other initial obligation in any manner other than negotiating a lien contract for the advertised purchase price.
(3) The phrases "no finance charge", "no carrying charge", or expressions of similar phrases, may not be used when there is any type of a charge for financed transactions.
(4) All advertising shall comply with Regulation Z of the Federal Truth in Lending Act and Federal Trade Commission Act.
(5) Advertisements which offer special annual percentage rate financing shall disclose any special conditions or terms which shall be met before the annual percentage rate applies to preclude deception.
G. Discounts, Savings, Rebates, Trade-In Allowances.
(1) Advertisement statements which offer discounts, savings, rebates, and guaranteed trades shall:
(a) Include the original price as well as the full delivered cash price, which the customer shall pay, except for taxes and title fees; and
(b) In the case of new vehicles, the full delivered cash price shall include any dealer processing charge and freight charge, unless the dealer clearly and conspicuously discloses the amount of these charges in the advertisement as required by Transportation Article, §15-311.1, Annotated Code of Maryland.
(2) The dealer may give representative examples in ads when various savings, discounts, rebates, and similar offers are made.
(3) A specific price may not be stated in an advertisement as an offer for a trade-in, if the price so stated is contingent upon the condition, model, or age of the prospective buyer vehicles, without so stating in the advertisement. The use of phrases such as "up to" and "as much as" may not be considered as adequate explanation.
(4) When a purchase order or agreement includes the amount of trade-in allowance, subject to official acceptance and appraisal, that condition shall be clearly and conspicuously stated on the order or agreement. If the order, including the trade-in allowance, has been officially accepted, the trade-in allowance may not be decreased upon re-appraisal unless the condition of the vehicle has been changed due to accident, failure of or damage to major components, or removal or substitution of equipment or accessories.