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Car Lease Money Factor 0.00374 to APR Conversion (8.98% APR)
A car lease money factor of 0.00374 (or 3.74 × 10^-3) equals an annual percentage rate (APR) of 8.98%. Audit dealer markups and residual values live.
Exact Conversion Formula: APR = Money Factor × 2,400 = 0.00374 × 2,400 = 8.98% Effective Annual Interest Rate.
FAQ: What APR is a 0.00374 money factor on a car lease?
Multiply 0.00374 by 2,400: a 0.00374 money factor equals exactly 8.98% APR.