What is the limitation period for a plaintiff to sue the lessee of a financed lease?

The fact that the claimant might not know the final or exact amount of the loss until after it has repossessed and sold the car is not and cannot be determinative of when a cause of action (or claim) arises. Damages in breaches of contract are not an exact science. The final amount can only be known with a judgment. That does not mean however that the claimant under a financed lease like this does not know as of the date of the breach that it has suffered serious loss giving rise to a cause of action against the lessee. As was observed in Jogosky v. Corporation of the Town of Huntsville 2010 ONSC 4590 (appeal dismissed 2011 ONCA 324) at para.26, “a plaintiff does not need to know the precise cause of injury before the limitation period starts to run, or the full extent of the loss suffered. Such a threshold for the commencement of a limitation period “places the bar too high”. Instead, a plaintiff need only know enough facts to base its allegation against the defendant.”