NC S491

Removes requirement for purchase agreements to include estimated financing terms (interest rate, loan duration, monthly payment).

Changes deposit language from "deposit or other payment" to "initial deposit" throughout the statute.

Eliminates automatic three-day cancellation period renewal when dealer provides new financing terms; removes requirement to return deposits within three business days if dealer changes purchase agreement terms.

Maintains buyer's right to cancel within three business days of signing with written notice and dealer's obligation to return initial deposit within seven business days (or 15 days for personal checks).

Effective October 1, 2015 for purchase agreements entered into on or after that date.