AZ SB1463

Amends Arizona Revised Statutes section 44-291 to regulate secondary motor vehicle finance transactions by imposing a maximum annual finance charge of 36 percent per year.

Defines "finance charge" to include all interest, ancillary product charges, and other credit extension fees associated with secondary motor vehicle finance transactions.

Makes secondary motor vehicle finance transactions voidable if a licensee charges amounts exceeding permitted finance charges and fees, with the licensee forfeiting all rights to collect principal, finance charges, or other fees.

Voids any secondary motor vehicle finance transaction made by an unlicensed person required to be licensed under the chapter, with no right to collect or retain any principal, finance charges, or fees.

Requires sellers to conspicuously disclose the annual secondary motor vehicle finance rate in contracts and exempts secondary motor vehicle finance transactions from certain disclosure requirements if the contract complies with federal law.