Auto Leasing Cheat Codes: Multiple Security Deposits

When it comes to auto leasing, people are always searching for a deal. As a matter of fact, it doesn’t even matter what you’re shopping for, getting a deal and saving some hard-earned money is one of the best feelings a shopper can get. Whether its taking advantage of a sale or applying some exclusive discounts or coupons, saving money is the name of the game. But sometimes it’s not what discounts you have or what secret sale you stumbled across, it’s how well you know the industry.

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In this particular case, that industry is the auto industry and lucky for you, our team of expert automotive consultants want to pass along one of the best leasing cheat codes there is – Multiple Security Deposits.

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Why Put Down Multiple Security Deposits?

Putting down multiple security deposits at signing, usually in the amount of several monthly lease payments rounded to the nearest $50, has a huge impact on the overall total you owe throughout the duration of your lease. That’s because making these multiple security deposits lowers the money factor, AKA the interest rate on the vehicle, therefore lowering the total amount you owe and thus, decreasing your monthly payments.

Typically an average lessee can put anywhere from seven to ten security deposits down at signing, lowering the money factor of the vehicle significantly, and saving you anywhere between $30 – $70 a month in some cases.

The amount you’ll save has much to do with the lender, who determines the money factor, and the MSRP of the vehicle, which will affect how much money you’ll end up saving.

For example on two cars with the same money factor, you will save a greater amount per month on a $90K vehicle rather than a $50K vehicle, because the interest rate will have a great effect and take more off the more expensive car. So while you can save $30 on the $50,ooo vehicle, you can end up saving $60 on the $90,000 vehicle.

Also, like with any security deposit for an apartment or house, the lessee will get their deposits back at the end of the lease or they can choose to put that amount towards their next leased vehicle.

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Which Brands Allow You to Make Multiple Security Deposits?

When it comes to multiple security deposits, there are only a few brands that will allow you to do so. Lexus, BMW, Mercedes-Benz, Infiniti, Toyota, and Audi will all allow you to put down multiple security deposits in order to lower your interest rate.

However, even if you’re locked in on one of these brands that offer this option, New Jersey is the only state that allows automakers to offer this payment strategy. In some cases, lessees also must be a resident of New Jersey as well in order to qualify for this payment plan.

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Is This Lease Strategy the Right Choice for Everyone?

There has to be some downside to this whole multiple security deposits thing right? Well, it’s not so much of a downside as it is a matter of circumstances. Since putting down multiple security deposits can easily wind up in the thousands depending on your payment amount, you may not want to part with all that cash at once.

This is especially true if you’re making a down payment and paying taxes and fees at signing as well. That amount could push you toward the $10K mark really quickly, an amount that is just not feasible for everyone.

However, if you’re locked in on a sign-and-drive deal or zero-down lease, then putting down multiple security deposits is a great move that will save you a lot of money in the long run.

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Am I eligible to put down Multiple Security Deposits?

Apart from the state and brand restrictions and limitations mentioned earlier, there are no personal stipulations that will disqualify you from taking advantage of this largely unknown lease strategy.

That means if your credit is subpar and your estimated monthly payments are a little higher than you would like, putting down multiple security deposits can get those payments back down to where you need them to be. That could be the difference between leasing an expensive Nissan Altima or getting a great price on a BMW 4 Series that is suddenly back at your price point.


So now that you’ve unlocked this major leasing cheat code, there’s only one thing left to do. Contact the automotive experts at Capital Motor Cars of course!

Our team of knowledgable automotive consultants will walk you through everything there is to know about multiple security deposits and whether this leasing strategy makes sense for you. And, because we are one of the only fully licensed and bonded leasing companies in the state of New Jersey, you’ll be able to take advantage of our strong relationships with NJ dealerships, meaning you are now one step closer to saving some serious cash, thanks to the wonders of making multiple security deposits.

Get to know the Capital Team, and shoot an email to your Automotive Consultant of choice directly to their inbox.


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