AZ HB2214

Prohibits any person from making, offering, or arranging secondary motor vehicle finance transactions with individuals in Arizona, with violating transactions void as to principal and all charges.

Amends definition of "secondary motor vehicle finance transaction" to include contracts obtaining security interests in motor vehicles outside of sale transactions and contracts where sellers retain use rights after sale.

Makes violations of the secondary motor vehicle finance transaction prohibition unlawful practices under section 44-1522, subject to enforcement procedures and penalties under chapter 10, article 7.

Removes previous provisions that allowed secondary motor vehicle finance transactions with specified maximum monthly finance rates (17% for loans $500 or less, declining to 10% for loans over $5,000).

Updates technical language throughout the statute, including corrections to grammar and modernizing terminology in retail installment contract provisions.