SCRA for Auto Loans

Pre-service auto loans: SCRA caps at 6%. Written request + orders to lender. Excess interest forgiven retroactively.

Example: $25K loan at 8.5% → 6% saves ~$30/month, ~$1,440 over 4-year enlistment.

Lease termination: SCRA allows early termination of vehicle leases with PCS or 180+ day deployment orders. Return vehicle + written notice. No early termination penalty — but may owe excess mileage/damage.

Loans taken AFTER entering active duty are NOT SCRA-protected. Those fall under MLA (36% MAPR cap) — different and less generous.