Are you interested in leasing a vehicle from UCDA? As with any lease agreement, it’s important to understand the terms and conditions before signing on the dotted line. In this article, we’ll discuss the key aspects of UCDA’s lease agreement and what you need to know before making your decision.

Firstly, it’s important to note that UCDA (Used Car Dealers Association) is a not-for-profit organization that represents over 4,000 used car dealers in Ontario. As such, their lease agreement may differ from other leasing companies or car dealerships.

One key aspect of UCDA’s lease agreement is the lease term. Most lease agreements are for a set number of months or years, but UCDA’s lease agreement is open-ended. This means that you can return the vehicle at any time, provided you give UCDA 30 days’ notice in writing. While this may seem flexible, it’s important to keep in mind that there may be additional costs associated with ending the lease early.

Another important aspect to consider is the monthly lease payment. UCDA’s lease agreement has a fixed monthly lease payment, which includes all maintenance and repairs for the vehicle. However, it’s important to understand that this payment may be more expensive than a traditional lease, as it includes these additional services.

Additionally, UCDA’s lease agreement includes a mileage limit of 24,000 kilometers per year. If you exceed this limit, you may be charged an additional fee at the end of the lease. It’s important to consider your driving habits and needs before signing the lease agreement to ensure that the mileage limit will not be an issue for you.

Finally, it’s important to understand the terms and conditions of the lease agreement, including any fees or penalties associated with late payments, early termination, or other circumstances. Make sure to read the agreement thoroughly and ask any questions before signing.

In conclusion, if you’re considering leasing a vehicle from UCDA, it’s important to understand the terms and conditions of their lease agreement. While their open-ended lease term and all-inclusive monthly lease payment may seem appealing, it’s important to consider the additional fees and mileage limit before making your decision. As with any lease agreement, it’s important to read the agreement thoroughly and ask any questions before signing to ensure that you fully understand the terms and conditions.