Money Factor The money factor can be thought of as the equivalent of an interest rate, which is used to determine the portion of the lease payment known as the “rent charge.” The money factor determines how much or how little a lessee will pay in rent charges over the term of a lea...
However, you won’t actually see the money factor in the fine print of the ads or commercials for these deals.“ The Money Factor you pay in a lease directly depends on your credit score” When visiting a car dealer for the purpose of leasing, ask them about the money factor on their ...
Find out the best time to lease a car. We reveal when the best times of the year to lease a car and how to get special offers all year round.
Money factorrepresents the interest you pay when you lease a car. It is included in your monthly lease payment. How Does Money Factor Work? Themoney factoris most often expressed in a lease agreement as a very small decimal, such as 0.00247 (although some dealers willquoteit as a larger d...
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Lease payments have to cover the interest expense associated with the leasing company loaning consumers the remaining negotiated capitalized cost of the car less any principal repayment over the lease term. If an interest rate is divided by 2400, a consumer knows the money factor on his lease. ...
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However, if this isn’t a decisive factor for you, leasing a car during this time period is a viable option to consider. End of sales periods Another great time to score major discounts on car lease offers is during the end of the sales period: the end of the month, quarter, or ...
In addition to being determined by the borrower'scredit history, the money factor is also affected by the financing company's rates as well as the dealer'smarkup. The money factor for a lease has historically been comparable to the national average for new car loans. ...