AZ HB2684

Amends Arizona Revised Statutes Section 44-291 regarding motor vehicle retail installment contracts and secondary motor vehicle finance transactions.

Establishes a 36 percent annual percentage rate cap for secondary motor vehicle finance transactions involving active duty military members or their dependents.

Makes violations of Section 670 of the John Warner National Defense Authorization Act for Fiscal Year 2007 (P.L. 109-364) applicable violations of Arizona law for secondary motor vehicle finance transactions.

Modifies late payment or delinquency charge provisions to cap charges at the lesser of 5 percent of unpaid balance or $10 for non-commercial transactions.

Makes grammatical and technical corrections to existing statute language regarding finance charge calculations and prepayment rebates.