Money Factor vs APR
Updated
What money factor is, how it relates to APR, and why it matters for your lease payment.
Money factor is the lease equivalent of an interest rate, written as a small decimal like 0.0015. Approximate APR equals money factor × 2400, so 0.0015 ≈ 3.6% APR.
Money factor is the lease equivalent of an interest rate, expressed as a small decimal (e.g. 0.0015). Approximate APR ≈ money factor × 2400.
Use either money factor or APR in our lease calculator; we convert between the two automatically.