Virginia § 46.2-640.1 - Vehicle leases that are not sales or security interests
Full text of Virginia Code of Virginia § 46.2-640.1 — Vehicle leases that are not sales or security interests, with citation guidance and answers to common questions.
§ 46.2-640.1. Vehicle leases that are not sales or security interests
Notwithstanding any other provision of law, in the case of motor vehicles, trailers or semi-trailers, a transaction does not create a sale or security interest merely because it provides that the rental price is permitted or required to be adjusted under the agreement either upward or downward by reference to the amount realized upon sale or other disposition of the motor vehicle or trailer.
1991, c. 536.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 46.2-640.1
What does Code of Virginia § 46.2-640.1 cover?
Section 46.2-640.1 ("Vehicle leases that are not sales or security interests") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 46.2-640.1?
A common citation format is "Code of Virginia § 46.2-640.1" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 46.2-640.1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.