Money Factor Calculator
FinanceConvert between an auto lease money factor and its equivalent annual interest rate (APR).
Equivalent Interest Rate (APR)
The annual percentage rate equivalent to the entered money factor, or vice versa.
Money Factor
0.008333
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Frequently Asked Questions
How is money factor converted to an interest rate?
Interest Rate (APR) = Money Factor x 2,400. Conversely, Money Factor = Interest Rate / 2,400. The constant 2,400 comes from 24 months in a typical lease term multiplied by 100.
Why do lease contracts quote a money factor instead of a percentage rate?
It is largely an industry convention; expressing lease financing as a small decimal (the money factor) rather than a percentage makes it easier to fold directly into the standard monthly lease payment formula.
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