South Carolina Code 37-2-111. “Amount financed” defined
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"Amount financed" means the total of the following items to the extent that payment is deferred:
(1) the cash price of the goods, services or interest in land, less the amount of any down payment whether made in cash or in property traded in;
Terms Used In South Carolina Code 37-2-111
- Lien: A claim against real or personal property in satisfaction of a debt.
(2) the amount actually paid or to be paid by the seller pursuant to an agreement with the buyer to discharge a security interest in or a lien on property traded in; and
(3) if not included in the cash price:
(a) any applicable sales, use, excise, or documentary stamp taxes;
(b) amounts actually paid or to be paid by the seller for registration, certificate of title, or license fees; and
(c) additional charges permitted by this chapter (§ 37-2-202).