Find the lease rate factor in your loan documents from the car dealership or financier. It should be a decimal, such as 0.0004.
Multiply the lease rate factor by 2,400. For example:
0.0004 x 2400 = 9.6
The interest rate in this case is 9.6 percent.
Recalculate the equation to eliminates the chances of mathematical error. And just to be 100 percent sure, perform the equation in reverse:
9.6 / 2400 = .004
The calculations were correct. The interest rate is 9.6 percent.