Parking and Transportation News
Auto Lease Rate Increase
In order to meet the Federal Cost Recovery requirements for fleet operations, we are required to analyze our costs to verify we are operating at a breakeven level. We have performed a lease cost analysis which will require us to adjust our lease rates for the next year.
Effective July 1st, the auto lease rates will increase for all classes of vehicles that you lease from Fleet Services. The following chart will detail the lease increase for each class of vehicles:
| Class | Current Monthly Charge | New Monthly Charge | Difference |
| Sedan (non-hybrid) | $350.00 | $394.00 | $44.00 |
| Sedan (hybrid) | $420.00 | $468.00 | $48.00 |
| Minivan | $365.00 | $417.00 | $52.00 |
| Compact Pickup | $305.00 | $345.00 | $40.00 |
We understand that this increase will affect some of our customers who are already working with a tight budget. If you are interested in turning in a vehicle or would like to discuss your options, please feel free to contact PTS by email at reneej@umich.edu or by phone at 764-3427.
Posted: 06/13/2012
Updated: