I recently cosigned for a vehicle with another person, but shortly after doing so I received orders to go to Japan for three years. Can I terminate my vehicle lease with the vehicle loan company? If so will the lease fall back on the other cosigner or will they need to return the vehicle?
The Servicemembers Civil Relief Act does provide you with certain rights and one of these is the ability to cancel a lease when you are being reassigned/deployed for 90 days or more. Many SCRA protections extend to a spouse or dependent of the servicemember. The lease provision though, isn't one of these based on the wording. Consult with your local JAG attorney if you need assistance.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
The Servicemembers Civil Relief Act does provide you with certain rights and one of these is the ability to cancel a lease when you are being reassigned/deployed for 90 days or more. Many SCRA protections extend to a spouse or dependent of the servicemember. The lease provision though, isn't one of these based on the wording. Consult with your local JAG attorney if you need assistance.
