REFERENCE TITLE: motor vehicle transactions; advertised vehicle price

 

 

 

 

State of Arizona

House of Representatives

Fifty-fifth Legislature

First Regular Session

2021

 

 

 

HB 2721

 

Introduced by

Representative Bolick

 

 

AN ACT

 

amending section 44-1371, Arizona Revised Statutes; relating to motor vehicle transactions

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 


Be it enacted by the Legislature of the State of Arizona:

Section 1. Section 44-1371, Arizona Revised Statutes, is amended to read:

START_STATUTE44-1371. Motor vehicle transactions; conditional financing; traded motor vehicle; advertised price; definition

A. If a sale or lease of a motor vehicle from a motor vehicle dealer or a lessor to a customer is conditioned on final approval of financing by a lender or lessor, the motor vehicle dealer or lessor shall retain title and possession of any motor vehicle traded by a customer as part of the transaction until financing is finally approved or the traded motor vehicle is returned to the customer.  Any remedy for a violation of this section may not be waived, modified or limited by agreement or contract.

B. A motor vehicle dealer must include in its advertised price of a motor vehicle all costs or fees for goods or services that are not optional for the motor vehicle transaction.

C. For the purposes of this section, the term "motor vehicle dealer" has the same meaning prescribed in section 28-4301. END_STATUTE