Multiple Security Deposits
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Multiple Security Deposits
Does anyone in-the-know know what the maximum number of MSDs might be on a MINI lease? MINI seems to want to keep this information a secret. None of the salespeople I've talked to know a whole lot about the program and its advantages.
Briefly, each MSD is one month's lease payment paid in advance when you sign up to lease. The money is fully refundable at lease termination even should you wreck the car (as long as your insurance fixes or replaces). On a BMW you can do up to seven MSDs which lowers your remaining monthly payments rather considerably. MY MA, who is really knowledgable and a great guy, was aware that this existed but did not know the maximum amounts. And never called back wit the info.
Even though you technically don't earn interest on the security you pay MINI or BMW the interest you save over the course of the lease is better than putting that same money in a bank. Or so I'm told.
Briefly, each MSD is one month's lease payment paid in advance when you sign up to lease. The money is fully refundable at lease termination even should you wreck the car (as long as your insurance fixes or replaces). On a BMW you can do up to seven MSDs which lowers your remaining monthly payments rather considerably. MY MA, who is really knowledgable and a great guy, was aware that this existed but did not know the maximum amounts. And never called back wit the info.
Even though you technically don't earn interest on the security you pay MINI or BMW the interest you save over the course of the lease is better than putting that same money in a bank. Or so I'm told.
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Does anyone in-the-know know what the maximum number of MSDs might be on a MINI lease? MINI seems to want to keep this information a secret. None of the salespeople I've talked to know a whole lot about the program and its advantages. Briefly, each MSD is one month's lease payment paid in advance when you sign up to lease. The money is fully refundable at lease termination even should you wreck the car (as long as your insurance fixes or replaces). On a BMW you can do up to seven MSDs which lowers your remaining monthly payments rather considerably. MY MA, who is really knowledgable and a great guy, was aware that this existed but did not know the maximum amounts. And never called back wit the info. Even though you technically don't earn interest on the security you pay MINI or BMW the interest you save over the course of the lease is better than putting that same money in a bank. Or so I'm told.
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