Arizona Laws 44-286. Requirements and prohibitions as to retail installment contracts
A. A retail installment contract shall be in writing, shall be signed by both the buyer and the seller and shall be completed as to all essential provisions prior to the signing of the contract by the buyer. The printed portion of the contract, other than instructions for completion, shall be in at least eight point type. The contract shall contain in a size equal to at least ten point bold type:
Terms Used In Arizona Laws 44-286
- buyer: means a person who buys a motor vehicle from a retail seller, not for the purpose of resale, and who executes a retail installment contract in connection therewith. See Arizona Laws 44-281
- Contract: A legal written agreement that becomes binding when signed.
- Motor vehicle: means any self-propelled device in or by which any person or property is or may be transported or drawn on a public highway, except:
(a) Devices that move on or are guided by a track or travel through the air. See Arizona Laws 44-281
- Property: includes both real and personal property. See Arizona Laws 1-215
- seller: means a person who sells a motor vehicle to a retail buyer for purposes other than resale under or subject to a retail installment contract. See Arizona Laws 44-281
- Writing: includes printing. See Arizona Laws 1-215
1. A specific statement that liability insurance coverage for bodily injury and property damage caused to others is not included, if that is the case; and
2. The following notice: "Notice to the buyer: 1. Do not sign this contract before you read it or if it contains any blank spaces. 2. You are entitled to an exact copy of the contract you sign."
B. The seller shall deliver to the buyer, or mail to him at his address shown on the contract, a copy of the contract signed by the seller. Until the seller does so, a buyer who has not received delivery of the motor vehicle shall have the right to rescind his agreement and to receive a refund of all payments made and return of all goods traded in to the seller on account of or in contemplation of the contract, or if the goods cannot be returned, the value thereof. Any acknowledgment by the buyer of delivery of a copy of the contract shall be in a size equal to at least ten point bold type, and, if contained in the contract, shall appear directly above the buyer’s signature.