Quote:
Originally Posted by mblaucoupe135
So I'm kind of new to leasing so can someone explain to me how this multiple security deposit thing works and why it's such a bad thing BMW is getting rid of it?
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Lots of stuff on-line about it. Basically...A security deposit is normally required when you lease. It is the amount of your payment rounded up by $50. Well BMW would let you give them more of them (up to 8 I think) and they would lower your money factor (MF) which is basically your interest rate. You would get them all back at the end of your lease.
The downside is if you want out of your lease - then you just have to convince someone to give you that money in exchange for taking over your lease.
At the end of the day, if you were going to keep the car for the entire lease, it made a lot of financial sense to do.