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Local Lease Rates

  1. Local Lease previously consisted of older vehicles with higher mileage.  Per insurance quidelines these vehicles were only to be driven locally - not outside the Cedar Falls/Waterloo area.
  2. As we are no longer keeping older, high mileage vehicles, Local Lease is being phased out and will be discontinued effective July 1, 2018 and regular lease rates will apply to all vehicles.
  3. Monthly rate is applied per University cut-off to cut-off date.
  4. Rate is approximately 80% of normal Motor Pool rate.
  5. The Mileage Rate is variable and is reviewed quarterly and adjusted, if necessary, due to changes in fuel prices.  This is done in lieu of a fuel surcharge.  The Mileage Rate applies to all miles driven per month.

Rates for FY2018

Motor Vehicle TypeMileage RateMonthly Rate
Compact Sedan$0.26$335.00
Mid-size Sedan$0.26$410.00
7 Passenger Van$0.26$572.00