AZ SB1004

Amends section 44-291, Arizona Revised Statutes, to modify maximum finance rates for secondary motor vehicle finance transactions.

Changes rate structure from monthly rates (17%, 15%, 13%, 10% based on principal amount) to annual rates of 36% for transactions of $3,000 or less.

For transactions exceeding $3,000, allows either a 36% rate on the first $3,000 and 24% on amounts above that, or a single blended rate reflecting the combined finance charges.

Clarifies that secondary motor vehicle finance transactions are voidable if licensees charge amounts exceeding permitted finance charges and fees, with no right to collect principal or fees.

Requires conspicuous disclosure of the annual secondary motor vehicle finance rate in contracts and exempts such transactions from certain disclosure requirements if they comply with federal law.