Which of the following is not necessary to disclose when advertising a closed-end credit sale?

In the context of advertising a closed-end credit sale, disclosures are regulated to ensure that consumers receive essential information to make informed decisions. When advertising such sales, it is mandatory to disclose the amount of down payment, terms of repayment, and the annual percentage rate (APR).

The tax rate, while important in the overall cost of the vehicle, is not a required disclosure in advertising for closed-end credit. Consumers generally calculate tax based on the final sale price and local tax rates when making purchases. Therefore, not including the tax rate does not hinder a consumer's understanding of the credit terms being advertised, making it the correct choice for what is not necessary to disclose.

This helps maintain clarity on what potential buyers should focus on when assessing the financing conditions offered for the vehicle.