The Consumers Guide to Auto Leasing
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Car Leasing Glossary - Annual Percentage Rate (APR)

Annual Percentage Rate (APR) (car leasing term)

A yearly rate of interest that includes fees and costs paid to acquire the loan. The annualized cost of credit expressed as a percentage in a finance agreement. In a lease, there is no annual percentage rate or equivalent rate.   Lenders are required by law to disclose the APR. The rate is calculated in a standard way, taking the average compound interest rate over the term of the loan, so borrowers can compare loans. There is no APR in a lease; instead, the cost of money is expressed as the money factor (define: money factor).

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