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Do you pay interest on a lease vehicle?

Unlike alternative vehicle financing options, interest does not apply to Contract Hire agreements. There is no APR, but the funder instead applies what is referred to as a ‘money factor’ and this is their fee for tying up the investment total of the vehicle over the agreed term. This money factor is directly related to the total of funds 'borrowed' by the lease holder in order to facilitate the lease agreement. 

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