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CALCULATING A BUY-BACK WHEN YOU LEASE THE VEHICLE

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FOR LEASED VEHICLES

Step 1

The amount paid as the security deposit for the vehicle. This amount should be taken from your lease agreement.


Step 2

The down-payment (including the value of your trade-in, if applicable) as shown on your lease agreement.


Step 3

Number of months shown on your lease agreement. (i.e., 24, 36, 48, 60 months)


Step 4

Number of months your vehicle has been in use at the time of the hearing.


Step 5

Number of kilometers allowed in your lease agreement.


Step 6

Number of kilometres on your vehicle when leased.


Step 7

Estimated number of kilometers on your vehicle on the date of the hearing. To be verified and calculated by the arbitrator on the date of hearing.


Step 8

The excess kilometre rate shown on your lease agreement. (i.e., 0.2 = 20 cents per kilometre)


Step 9

The before tax amount paid for a Manufacturer Support Extended Service Contract if not included in your lease agreement (if proven).


Step 10

Negative equity amount (if proven).


Step 11

GST or HST rate as shown on your lease agreement.


         
Number of months remaining on your lease.      
The down-payment or deposit (including the value of your trade-in if applicable) prorated over the remaining term of the lease.  
Excess kilometres travelled.      
Less a reduction for use for excess kilometres driven prior to the date of the arbitration hearing.  
Less, if proven, a reduction of use for the before tax amount of the Manufacturer Supported Extended Service Contract.  
Add, if proven, a reduction in the Negative Equity amount owing to the Manufacturer.  
Buy-back Amount (GST or HST Inclusive)  

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