N.Y. Personal Property Law § 505: Advertisement

§ 505. Advertisement. 1. An advertisement for a rental-purchase

agreement that refers to or states the amount of a payment or the right

to acquire ownership of any one particular item under the agreement

shall clearly and conspicuously state:

(a) that the transaction advertised is a rental-purchase agreement;

(b) the total number of payments and the total amount to be paid to

acquire ownership, which amount shall be explicitly labeled "total

cost";

(c) the circumstances under which the consumer can acquire ownership

rights; and

(d) whether the advertised terms are for new or used merchandise.

2. An advertisement for personal property available through

rental-purchase agreements that refers to more than one appliance or

particular item and includes information on periodic payment amounts

shall include a representative item available at that amount and shall

conspicuously state:

(a) that the merchandise offered may be new or used;

(b) that transaction advertised is a rental-purchase agreement; and

(c) that the consumer does not acquire ownership rights unless the

consumer complies with the ownership terms of the agreement.

3. Every item displayed or offered under a rental-purchase agreement

shall have clearly and conspicuously indicated in arabic numerals, so as

to be readable and understandable by visual inspection, each of the

following affixed to the item:

(a) the cash price of the merchandise;

(b) the amount of the periodic payment and the total number of

periodic payments required for ownership; and

(c) the total amount that must be paid to acquire ownership of

merchandise, which amount shall be explicitly labeled total cost.