Long Term Lease Information

Lease Information

Leased vehicles are assigned on an ongoing basis for the life of the vehicle.  Rates are updated annually and paid monthly.

  • Charges will be billed monthly through Business Office statements. Fleet Services will contact you prior to each fiscal year to verify account numbers.
  • New leases must be approved in advance by the Fleet Services Manager and University Business Manager.
  • Fuel will be charged to the department, not paid by Fleet Services. Fueling is done by the lessee. (The fuel island is self-service, stop by our office if you need assistance).
  • The credit cards should be used for fuel only. The credit cards should not be used in the Iowa City area; the Fleet Services fuel island is open 24-hours a day. If an emergency mechanical repair is needed the person needs to call Fleet Services for repair instructions. After hours call Public Safety at (319) 335-5022.
  • Parking fees, parking fines, tolls or any other charges not directly related to the Fleet Services' operational cost of maintaining vehicles are the responsibility of the driver or department.
  • Excessively dirty vehicles will be charged an additional fee to clean.
  • Damages to vehicle will be charged to the department responsible for approving the lease.
  • Monthly rates are for vehicles averaging 1,250 miles per month or less. All miles driven over the average of 1,250 miles per month will be charged an additional per mile charge based on the vehicle class.

Below is an example of a mid-size sedan driven 2,500 miles in one month:

 Monthly charge                                                       $371.00

Additional 1,250 miles X $0.13 per mile             $162.50

Total charges for the month                                $533.50


Lease Vehicle Rate Information, FY 2020

Lease Vehicle Rate Information, FY 2020 - effective 10/1/19