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Money factor: The price you’ll pay to lease the vehicle — essentially, ... Use an auto lease calculator to figure out whether leasing or buying a car will save you more money over the long ...
Qualifying for any leasing incentives or rebates can also reduce your cap cost and lease payment. Calculate Your Money Factor Ahead of Time. You can calculate your car's money factor by asking the ...
How to Calculate Residual Value. Understanding how to calculate residual value can be important if you want to determine your monthly payments on a car lease and avoid paying more than you can afford.
Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.
The APR can also be represented by a money factor (also known as the lease factor, lease rate, or factor). The money factor is usually given as a decimal, for example .0030. To find the equivalent APR, the money factor is multiplied by 2400. A money factor of .0030 is equivalent to a monthly interest rate of 0.6% and an APR of 7.2%. [14]
A lease is a contractual agreement between a person who owns the property (lessor) and a person who gets to use it during the term of the lease (lessee). Usually, car leases allow the lessee to drive the car for a certain number of miles for a certain number of years.