Toyota’s MULTIPLE SECURITY DEPOSIT PROGRAM (MSD Program) could both secure you an interest rate discount – of up to 1.5% – as well as decrease your monthly payment, without having to put down a non-refundable deposit.
Here’s how it works:
When leasing a new Toyota, you have the option of adding up to 10 security deposits, with a rate reduction of 0.15% each. This, of course, is not to be confused with a standard down payment. Typically, a security deposit is taken and held for the term of the lease. When the vehicle is returned to the dealership, said security deposit is refunded (assuming the vehicle is both within the specified condition and within the allotted lease-end mileage).
In the case of a 48-Month lease on a 2016 Rav4 AWD XLE:
Original Rate 2.49%
Deposits/$ Total 10/$5,500
Rate Reduction 1.5%
New Rate 0.99%
Payment with $0 Down $481.97/Month
Payment with 10 Deposits $447.39/Month
SAVINGS (over term) $1,659.84
Security Deposit to be returned at lease end = $5,500
With Toyota’s MSD Program, each additional security deposit you apply serves to reduce your interest rate; thus reducing the monthly payments. Moreover, the security deposit is then refunded to you at the conclusion of your lease term!
Ultimately, if you are considering a new Toyota of any sort, feel free to take advantage of a potential investment opportunity, and request more information regarding our Toyota MSD Program by clicking to the right!