Which of the following is NOT required when advertising a closed end credit sale?

In the context of advertising for a closed-end credit sale, the information that must be provided is governed by regulations aimed at consumer protection and transparency. The loan amount, annual percentage rate (APR), and total payments detail are essential disclosures that ensure consumers are fully aware of the financial implications of their credit agreement.

When it comes to the specific elements required in advertising, the tax rate is not mandated by law to be included in such advertisements. This is because the tax rate can vary significantly based on the consumer’s location and applicable local jurisdictions, rather than being a fixed aspect of the credit sale itself. As such, including the tax rate could lead to confusion and inaccuracies depending on the consumer’s specific situation.

Conversely, the loan amount provides clarity on the total borrowed, the APR reflects the cost of borrowing expressed as a yearly rate, and the total payments reveal the total cost the consumer will incur over the term of the loan. These elements help establish a clear and transparent understanding of the credit transaction for the consumer, ensuring they are informed before making financial commitments.