(815 ILCS 375/22.1) (from Ch. 121 1/2, par. 582.1)
Sec. 22.1.
(a) This Section applies to any advertisement to aid, promote, or assist
directly or indirectly any motor vehicle installment sale, or other
extension of credit subject to the provisions of this Act.
(b) If any advertisement to which this Section applies states the rate
of a finance charge, the advertisement must state the rate of that charge
expressed as an annual percentage rate.
(c) If any advertisement to which this Section applies states the amount
of the down payment, if any, the amount of any installment payment, the
dollar amount of any finance charge, or the number of installments or the
period of repayment, then the advertisement must state all of the following
items:
(1) The cash price.
(2) The down payment, if any.
(3) The number, amount, and due dates or period of payments scheduled to
repay the indebtedness if the credit is extended.
(4) The rate of the finance charge expressed as an annual percentage
rate.
An advertisement which complies with the federal Truth in Lending Act,
amendments thereto, and any regulations issued or which may be issued thereunder,
shall be deemed to be in compliance with the provisions of this Section.
(Source: P.A. 82-169.)
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