“MONEY FACTOR” IS THE INTEREST RATE ON A LEASE.
DEALERS CAN LEGALLY MARK-UP THE MONEY FACTOR, WHICH INCREASES THE INTEREST TO YOU AND RAISES THE PROFIT FOR THEM BY THE SAME AMOUNT IT RAISES YOUR INTEREST
New Jersey’s Consumer Protection Leasing Act (“C.P.L.A.”), N.J.S.A. 56:12-60 et seq., established what are perhaps the strongest motor vehicle leasing standards in the nation.
“APR” ANNUAL PERCENTAGE RATE IS THE INTEREST RATE ON A FINANCE LOAN
MONEY FACTOR IS THE INTEREST RATE ON A LEASE
DEALERS CAN LEGALLY MARK-UP THE A.P.R. OR MONEY FACTOR WHICH INCREASES THE INTEREST TO YOU AND RAISES THE PROFIT FOR THEM.
Car Dealerships can legally mark-up the A.P.R. to their customer because dealers are licensed brokers for the banks and leasing companies.
The dealership buys the money from the bank or leasing at what is called the “BUY RATE”. Continue reading ““A.P.R.” IS THE INTEREST RATE ON A FINANCE LOAN (Dealers can mark-up the APR rate and increase their profit)”
Celebrating 18 Years Negotiating ON-LINE in 2020 for the Benefit of YOU, the CONSUMER
