§ 25A-9. "Amount financed" defined. - North Carolina Statutes

§25A‑9.  "Amount financed" defined.

(a)        "Amountfinanced" means the total of the following to the extent that payment isdeferred by the seller:

(1)        The cash price ofthe goods or services less the amount of any down payment whether made in cashor property traded in,

(2)        The amount actuallypaid or to be paid by the seller pursuant to an agreement with the buyer todischarge a security interest or lien on property traded in,

(3)        Additional chargesfor insurance described in G.S. 25A‑8(b) and charges referred to in G.S.25A‑8(c), and

(4)        Official fees asdescribed in G.S. 25A‑10, to the extent they are itemized and disclosedto the buyer.

(b)        If not included inthe cash price, the amount financed includes any applicable sales, use ordocumentary stamp taxes and any amount actually paid or to be paid by theseller for registration, certificate of title or license fees. (1971,c. 796, s. 1.)