Credit Sale, Required Disclosures.
Article 140
ART. 140. Credit Sale, Required Disclosures. - Any creditor extending a consumer credit sale other than one pursuant to an open-end credit plan shall disclose in a statement to the extent applicable, the following information: the cash price or delivered price of the property or service to be acquired; the amounts, if any, to be credited as downpayment and/or trade in; the total amount to be financed or the difference between the amounts set forth under paragraphs (1) and (2); the charges, individually itemized, which are paid or to be paid by such person in connection with the transaction but which are not incident to the extension of credit; the finance charge expressed in terms of pesos and centavos; the percentage that the finance charge bears to the total amount to be financed expressed as a simple annual rate on the outstanding balance of the obligation; the effective interest rate; the number, amount and due dates or periods of payments scheduled to repay the indebtedness; and the default, delinquency or similar charges payable in the event of late payments.