A good money factor for a lease in 2024 typically ranges from 0.00100 to 0.00200, although this can vary based on several factors such as credit score, the leasing company, and market conditions. To convert the money factor to an annual percentage rate (APR), you can multiply it by 2400. For example, a money factor of 0.00100 translates to an APR of about 2.4%.
It’s important to shop around and compare offers from different dealerships and lenders, as well as negotiate the money factor to ensure you get the best deal possible. Additionally, maintaining a strong credit score can help secure a lower money factor.
