2017 Arizona Revised Statutes
Title 44 - Trade and Commerce
§ 44-1371 Motor vehicle transactions; conditional financing; traded motor vehicle; definition

Universal Citation: AZ Rev Stat § 44-1371 (2017)

44-1371. Motor vehicle transactions; conditional financing; traded motor vehicle; definition

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

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