§ 37-2-111. "Amount financed" defined.
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§ 37-2-111. "Amount financed" defined.
"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;
(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 (Section 37-2-202).