Multiple security deposits (MSD) by brand
Which captives still advertise a multiple-security-deposit program, the deposit cap, and what they refuse to quantify.
4 min read
Multiple security deposits are extra refundable cash you post at signing so the captive lowers the rent charge. They are not a down payment. They come back at lease end, minus whatever you still owe.
Two captives still describe the program on a consumer page: Toyota Financial Services (up to nine additional deposits, not in New York) and BMW Financial Services (up to seven, transferable at lease end). Neither publishes the money-factor reduction per deposit.
A blog that prints “$0.00010 off the MF per deposit” without a captive URL is guessing. We are not.
TLDR Quick Guide
- TFS: up to nine additional deposits on new and certified Toyotas. Not available in New York. Refunded at term minus wear, mileage, disposition.
- BMW FS: up to seven deposits on a new lease, or transfer the balance from the current lease at lease end.
- Neither captive publishes the rate cut per deposit on those pages.
- Honda, Ford, GM, Hyundai, Mercedes, Nissan: no public MSD program page as of August 2026.
- If a dealer offers MSDs, get the deposit amount, the new money factor, and the refund rule in writing on the worksheet.
Captives that still advertise MSD
| Brands | Captive lender | Published program | Max deposits | Published on |
|---|---|---|---|---|
| Toyota, Lexus | Toyota Financial Services / Lexus Financial Services | Yes, on new and certified Toyota or Lexus vehicles leased through TFS or LFS. Not available in New York. | Up to nine additional security deposits at signing | toyotafinancial.com |
| BMW | BMW Financial Services | Yes. BMW USA lease-program page: put down up to seven security deposits on a new lease, or transfer the balance from an existing lease at lease end. | Up to seven security deposits | bmwusa.com |
How to use an MSD if it is offered
- Each extra deposit is usually one month’s payment (confirm on the worksheet).
- Ask for the money factor with zero extra deposits and with N deposits. The difference is the only number that matters.
- Unused deposits refund at term after wear, mileage, and disposition. TFS says this explicitly.
- New York: TFS says the program is not available. Do not plan on MSDs in NY on a TFS lease.
Brands that do not publish a program
| Brands | Captive lender | Published program | Max deposits | Published on |
|---|---|---|---|---|
| Honda, Acura | Honda Financial Services | Not published online | — | — |
| Nissan, Infiniti | Nissan Motor Acceptance (NMAC) | Not published online | — | — |
| Hyundai, Kia, Genesis | Hyundai Capital America | Not published online | — | — |
| Subaru | Subaru Motors Finance (Chase) | Not published online | — | — |
| Mazda | Mazda Financial Services | Not published online | — | — |
| Volkswagen, Audi | Volkswagen Credit / Audi Financial Services | Not published online | — | — |
| Ford, Lincoln | Ford Credit | Not published online | — | — |
| Chevrolet, GMC, Buick, Cadillac | GM Financial | Not published online | — | — |
| Jeep, Ram, Dodge, Chrysler | Stellantis Financial / Chrysler Capital | Not published online | — | — |
| Mercedes-Benz | Mercedes-Benz Financial Services | Not published online | — | — |
| Volvo | Volvo Car Financial Services | Not published online | — | — |
| Tesla | Tesla Finance | Not published online | — | — |
Some of these captives offered MSDs in past program years. A past year is not a current offer. If the worksheet has no extra-deposit line, you do not have the program.
Key Takeaways
- TFS: nine extra deposits, not in New York, refundable minus amounts owed.
- BMW FS: seven deposits, transferable at lease end.
- Per-deposit MF reduction is unpublished on both official pages.
- Treat any other brand as unpublished until the worksheet shows it.
FAQs
A multiple security deposit: extra refundable cash posted at signing in exchange for a lower rent charge. It is not cap-cost reduction. You should get it back at lease end if you owe nothing else.
Yes, on the TFS consumer site: up to nine additional deposits on new and certified Toyotas leased through TFS. Not available in New York. TFS does not publish the money-factor cut per deposit.
BMW USA’s lease-program page allows up to seven security deposits on a new lease, or transferring the balance from an existing lease at lease end. The rate reduction per deposit is not published there.
No. Cap-cost reduction (money down) is not refunded. Security deposits are, minus amounts still owed. Do not confuse them on the worksheet.
Because TFS and BMW do not publish one. A number without their URL would be a guess, and guesses are how these pages fail.
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