no ones gonna believe me..but if you look at my last post about my other quote..i was quoted for 06 g35 coupe, 5AT, premium package, sport package, aero package, 531 24/months, 12k a year, $0 down

 

.00282 * 2400 = 6.78 %

 

Who told you to multiply by 2400?

FYI...it's 2600

 

leaseguide.com

Money Factor


When you lease, you're tying up the leasing company's money while you're driving their car. Remember, they spent their money to buy your car from the dealer so that they could lease it to you. They rightfully expect you to pay interest on that money, the same as with a loan.

This interest is expressed as a money factor, sometimes called lease factor or simply factor, and is specified as a small decimal number such as .00297. (Note: dealers will sometimes confuse you by quoting money factor as a larger decimal, such as 2.97, which means .00297, because it sounds like an attractively low annual interest rate.)

Money factors can be converted to annual interest rate (APR) by multiplying by 2400 (Yes, it is always 2400 and is not related to the length of the loan in months). For example, a money factor of .00297 multiplied by 2400 = 7.13%.

Try converting interest to money factor, or money factor to interest, in the Converter Calculator here to the right.

A good rule of thumb: Lease money factors, converted to APR, should be comparable to, if not lower than local new-car loan interest rates. Like interest on a loan, the lower the money factor, the lower your monthly lease payments.

Some recent manufacturers' lease deals have offered money factors as low as .000625 (1.5% APR), or lower. However, you may not qualify for these great money factors unless if you have a spotless, or near spotless, credit rating. Credit requirements for leasing are somewhat more strict than for purchase loans because of higher risks to the financial company.

If your credit history is flawed, even if it's a mistake, you'll pay a higher interest rate — or not be able to lease at all. It's always advisable to know your credit report and FICO score (see myFICO.com ) before visiting your dealer. If you spot problems, get them resolved with the credit reporting agency as soon as possible.

Note that money factor and interest rate is not required to be shown in lease contracts. So, if you want to know your money factor, you'll have to ask — or you can calculate it using the Lease Inspector in our Lease Kit.

 

And you work for dealership?

 

Its now 531/mos?

 

its 531/month with the premium package(and taxes rolled into payments), and this is from a different leasing company, not autostar