Title 10, Chapter 1, Section 33.1
( 10-1-33.1)
A retail installment seller may advance money to a buyer or pay
money to a third party on behalf of the buyer to satisfy a lease on
or a lien on or a security interest in a motor vehicle used as a
trade-in on a motor vehicle which is the subject of a retail
installment transaction under this article. Any amount so advanced
or paid may be financed as part of a retail installment contract and
shall not be considered a loan. The transaction and the seller
making such advance or payment shall be exempt from the provisions
of Chapter 3 of Title 7, relating to industrial loans, from the
provisions of Chapter 4 of Title 7, relating to interest and usury,
and from any other provision of Georgia law regulating loans. |