DMV Exam Vocabulary Terms
Money factor
Also referred to as a 'lease factor' or 'lease fee.' An auto leasing industry term for expressing the interest rate used to calculate the monthly lease payment, and equal to the leases APR divided by 2,400. (For example, an APR of 7.2% equals a money factor of 0.0033.)
Other terms you may be interested in:
Pass The Driver's License Test Guaranteed
Our DMV Driving Test Prep Includes:
- 750+ DMV Test Questions & Answers
- On-The-Road Driver's Ed Videos
- Take Unlimited DMV Tests For 1 Year
- Practice Mode & Timed Exam Mode
- DMV Vocab Flashcards & Glossary
- Your State DMV Driving Manual
- Rules & Regulations Updated 2024
- Support From DMV Liability Attorney
