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Terminating Vehicle Lease SCRA

SCRA Car lease vehicle lease terminate lease

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#1 jswan89

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Posted 09 October 2018 - 10:46

The SCRA is a godsend for those in/going into the military. I have been able to reduce my credit card interest rates to 6% or less in addition I hope to terminate my car lease when I enter active duty.

 

I am going to basic training Jan 15th then to WOCS in April. My plan is to terminate my car lease in early December. Will going to WOFT qualify me for the 180 day requirement to terminating my lease? The other requirements being going OCONUS or deploying overseas.

 

Has anyone going into WOFT had any experience with terminating their car lease?

 

Thanks!



#2 StockTrader

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Posted 09 October 2018 - 11:59

Good luck. I had to hang on to my truck that was a lease all the way through bct and wocs. Only going overseas will terminate the lease if i remember correctly. This was 4 years ago.

#3 mike0331

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Posted 09 October 2018 - 13:23

https://www.law.corn...de/text/50/3955

 

Looks like it covers you from entry into military service as well. This is all going to be in section 3955 of the act. If you look at a(1)(A) it states that you can generally terminate a lease after entry into military service. The law further defines military service here 50 USC § 3911(2), where it references title 10 orders under 101(d)(1), which is pretty inclusive: "includes full-time training duty, annual training duty, and attendance, while in the active military service, at a school designated as a service school by law or by the Secretary of the military department concerned"

 

b(2)(A) of 3955 of the SCRA specifically refers to motor vehicle leases, and specifies that if you subsequently enter military service for 180+ days under a call or order you should be all set. Your orders should satisfy this. The procedure to terminate the lease is laid out in subsection "c" of Section 3955 of the SCRA. So make sure you follow that to the "T" when you go to do it, probably wouldn't hurt to bring in the legal references as well. I'm sure there's a better write-up in google land than I just did. 

 

Mike
 



#4 jswan89

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Posted 09 October 2018 - 21:01

https://www.law.corn...de/text/50/3955

 

Looks like it covers you from entry into military service as well. This is all going to be in section 3955 of the act. If you look at a(1)(A) it states that you can generally terminate a lease after entry into military service. The law further defines military service here 50 USC § 3911(2), where it references title 10 orders under 101(d)(1), which is pretty inclusive: "includes full-time training duty, annual training duty, and attendance, while in the active military service, at a school designated as a service school by law or by the Secretary of the military department concerned"

 

b(2)(A) of 3955 of the SCRA specifically refers to motor vehicle leases, and specifies that if you subsequently enter military service for 180+ days under a call or order you should be all set. Your orders should satisfy this. The procedure to terminate the lease is laid out in subsection "c" of Section 3955 of the SCRA. So make sure you follow that to the "T" when you go to do it, probably wouldn't hurt to bring in the legal references as well. I'm sure there's a better write-up in google land than I just did. 

 

Mike
 

 

This is great that you very much. 






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