North Carolina General Statutes 25A-9. “Amount financed” defined
(a) “Amount financed” means the total of the following to the extent that payment is deferred by the seller:
(1) The cash price of the goods or services less the amount of any down payment whether made in cash or property traded in,
Terms Used In North Carolina General Statutes 25A-9
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- Lien: A claim against real or personal property in satisfaction of a debt.
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
(2) The amount actually paid or to be paid by the seller pursuant to an agreement with the buyer to discharge a security interest or lien on property traded in,
(3) Additional charges for insurance described in N.C. Gen. Stat. § 25A-8(b) and charges referred to in N.C. Gen. Stat. § 25A-8(c), and
(4) Official fees as described in N.C. Gen. Stat. § 25A-10, to the extent they are itemized and disclosed to the buyer.
(b) If not included in the cash price, the amount financed includes any applicable sales, use or documentary stamp taxes and any amount actually paid or to be paid by the seller for registration, certificate of title or license fees. (1971, c. 796, s. 1.)