§ 20-101.2. Conspicuous disclosure of dealer finance yield charges. - North Carolina Statutes

§ 20‑101.2.  Conspicuousdisclosure of dealer finance yield charges.

(a)        A motor vehicledealer shall not charge a fee or receive a commission or other compensation forproviding, procuring, or arranging financing for the retail purchase or leaseof a motor vehicle, unless the dealer complies with both of the followingrequirements:

(1)        The dealer shallpost a conspicuous notice in the sales or finance area of the dealershipmeasuring at least 24 inches on each side informing customers that the dealermay receive a fee, commission, or other compensation for providing, procuring,or arranging financing for the retail purchase or lease of a motor vehicle, forwhich the customer may be responsible.

(2)        The dealer shalldisclose conspicuously on the purchase order or buyer's order, or on a separateform provided to the purchaser at or prior to the closing on the sale of thevehicle, that the dealer may receive a fee, commission, or other compensationfor providing, procuring, or arranging financing for the retail purchase orlease of a motor vehicle, for which the customer may be responsible.

(b)        Nothing containedin this section or elsewhere under the law of this State shall be deemed torequire that a motor vehicle dealer disclose to any actual or potential purchaserthe dealer's contractual arrangements with any finance company, bank, leasingcompany, or other lender or financial institution, or the amount of markup,profit, or compensation that the dealer will receive in any particulartransaction or series of transactions from the charging of such fees. (2001‑487, s. 123.5;2001‑492, s. 2.)