AZ HB2627

Prohibits any person, whether located in Arizona or another state, from making, offering, or arranging secondary motor vehicle finance transactions with individuals in Arizona.

Declares secondary motor vehicle finance transactions void as to principal and all charges, and classifies violations as unlawful practices under Arizona consumer protection law.

Removes previous provisions that set maximum monthly finance rates (ranging from 10-17 percent) for secondary motor vehicle finance transactions based on loan amount.

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

Violations are subject to enforcement procedures and penalties under Arizona's consumer protection statutes.