Loaner Agreement
Supplementary Disclosure
GENERAL RULES - Must have valid U.S. or State Department driver's license, current comprehensive car insurance, valid credit card and be at least 21 years of age. Only the person(s) named on the agreement are permitted to operate the loaner car. EVPM does NOT provide primary auto liability, collision and comprehensive insurance. If the insurance information provided by the client does not provide adequate coverage, the client agrees to pay for all injury, damage or loss caused.
This Supplementary Disclosure clarifies certain NON-NEGOTIABLE charges and restrictions related to your use of the Temporary Substitute Vehicle (TSV) provided by Executive Vehicle Portfolio Management LLC (EVPM):
REFUELING – The vehicle needs to be returned to EVPM with same fuel level as when vehicle was provided to you. Refueling cost will be $5.99 per gallon.*Subject to change based on daily market price.
TSV Return – You will be notified once your vehicle is ready. TSV must be returned by 9.00 a.m. the morning after notification. Failure to do so will result in a charge of $75, with additional charges of $75/day incurred thereafter until TSV is returned.
DAMAGE – TSV will be inspected once it is returned to ensure there is no new damage. Please make sure TSV is checked in and inspected BEFORE you leave the dealership. A check-in sheet will be provided to you upon request. Whenever possible, avoid returning TSV after business hours. Any new damage found during check-in will be your responsibility.
TRAFFIC VIOLATIONS – While TSV is in your possession, you are expected to adhere to all local and state laws. Any unpaid tolls, parking or speeding tickets issued while TSV is in your care, custody and control will be your responsibility. An administrative fee of $35 dollars will be added to the total amount of the fine and/or late fees.
NO SMOKING – EVPM has a strict no smoking policy for all TSVs and does not permit smoking in these vehicles. If you return TSV with evidence of smoking (odor, burns, stains), you will be charged a cleaning fee of up to $250.
NO PETS – EVPM has a strict no-pets policy for all TSVs and does not permit pets in these vehicles. If you return TSV with evidence of the presence of pets, you will be charged a cleaning fee of up to $250.
MILEAGE ALLOWANCE – TSV is intended for normal use only. Maximum daily allowance of 75 miles/day. Failure to adhere to this restriction will result in a mileage charge of $1.00/mile beyond average of 75 miles/day. Violation of this policy may result in EVPM no longer providing TSVs for future service appointments. EVPM uses GPS tracking.
INSURANCE – In the event that your insurance information is inaccurate or if coverage on your policy does not provide primary auto liability, collision and comprehensive coverage, you agree to pay for all injury, damage or loss you caused to TSV and to any third parties involved. GEICO customers specifically acknowledge that EVPM does not provide the primary insurance. EVPM will not provide any insurance information to GEICO if requested by GEICO. If there is any damage to vehicle, your deductible will be collected immediately.
DIMINISHED VALUE – You agree to pay EVPM the diminished value of the TSV, if it is involved in an accident and not covered by your insurance company. “Diminished Value” is the difference between fair market value of the TSV before damage and its value after repairs as calculated by a third-party estimate obtained by us or on our behalf.
PERSONAL USE ONLY – I understand that the loaner vehicle is for my personal use while my vehicle is being serviced. I specifically understand and agree that the loaner vehicle will not be used for any COMMERCIAL PURPOSES, such as taxi, Uber, Lyft or any other transportation services, delivery vehicle, etc. If I violate this prohibition the dealership will charge me a MILEAGE AND A $250 PER DAY USAGE PENALTY, and I will be disqualified from future loaner vehicle privileges.