46.2-640.1 - Vehicle leases that are not sales or security interests. - Virginia Statutes

§ 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 securityinterest merely because it provides that the rental price is permitted orrequired to be adjusted under the agreement either upward or downward byreference to the amount realized upon sale or other disposition of the motorvehicle or trailer.

(1991, c. 536.)