AZ HB2669

Prohibits entering into secondary motor vehicle finance transactions for vehicles that are encumbered or subject to any lien, and voids any such transactions made in violation of this requirement.

Prohibits taking additional security or guaranty as a condition to entering into a secondary motor vehicle finance transaction.

Establishes a maximum annual finance charge of 36 percent per year for secondary motor vehicle finance transactions, replacing previous tiered rates based on principal amount.

Defines "finance charge" for secondary motor vehicle transactions to include all interest, ancillary product charges, and other charges incidental to extending credit.

Makes violations of secondary motor vehicle finance transaction requirements unlawful practices subject to enforcement and penalties under Arizona consumer protection law.