Lease Rates

Local Lease Rates

  1. Local Lease previously consisted of older vehicles with higher mileage. Per risk management guidelines 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 was phased out and discontinued effective July 1, 2018 and regular lease rates will apply to all vehicles.
  3. 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 FY23

Vehicle Type Mileage Rate Monthly Rate
SUV $0.27 $540.00
Sedan $0.27 $540.00
7-Passenger Mini-Van $0.27 $729.00

Daily Rental and Lease Rates

Operating Guidelines

  1. Daily rate is for a period of 24 hours. Vehicles returned late are charged for another day. Late returns many times inconvenience customers as we don't always have other suitable vehicles available.
  2. Mileage rate is applied to all miles driven during each reservation. 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.
  3. Weekly rate is up to 7 calendar days in duration.
  4. Monthly rate is up to 30 days in duration.
  5. Motor pool will make every effort to provide a vehicle; including subleasing a vehicle from outside vendors.  (Sublet vehicles are picked up and returned to the Motor Pool lot. A fleet credit card is also included for fuel purchase).
  6. Motor pool reserves the right to substitute vehicles, when necessary, to meet demand. Personal vehicle mileage rate reimbursement waivers will not be issued unless no suitable vehicles are available.
  7. Failure to cancel 24 hours in advance of departure time will be assessed a late cancelation fee (at the daily rate).
  8. A $25.00 cleaning fee will be assessed for vehicles returned with exceptionally dirty or stained interiors, $250 to remove smoke smell from upholstery. University Policy is NO SMOKING IN UNIVERSITY VEHICLES.
  9. A $10.00 charge may be assessed for failure to report leaving and returning odometer readings, failure to return the reservation envelope, and for failure to provide receipts for fuel purchases with the fleet credit card.
  10. A $35.00 administration fee will be assessed to any invoices billed to Motor Pool where the reservation arrangements are made outside of UNI Motor Pool.
  11. Authorization for Travel must be approved using Spend Authorization # prior to driving a university vehicle.

Rates for FY25

Motor Vehicle TypeMileage RateDaily RateWeekly RateMonthly Rate
Sedan (Ford Fusion, Chevy Malibu or Impala)$0.26$40.00$200.00$800.00
SUV (Ford Escape)$0.26$50.00$250.00$1000.00
Mini-Van (Seats 7) (Dodge Grand Caravan)$0.26$50.00$250.00$1000.00
12-Passenger Van (Seats 12)$0.26$130.00$650.00$2600.00
15-Passenger Van (Seats 11 - limited to 11 occupants per safety guidelines)$0.26$130.00$650.00$2600.00