Multiple Security Deposits (MSD) in New York?

Hi there everyone,

I had a question regarding Multiple Security Deposits.

I am located in NY and went to a dealer in NY to look at a BMW. I asked about putting down multiple security deposits but they said you’re not allowed to in NY.

Can I got to another state, say NJ, and get a lease with MSDs or will it be a problem since it’ll still be registered in NY?

Please let me know.

Thank You

Not an authority but I’ve seen it mentioned on multiple forums over last 8+ years that you can buy/lease from another state and register in NYS without a problem. They just want their taxes and fees at the DMV, couldn’t care less what your contact from BMWFS says.

The relevant law prevents NYS dealers from accepting more than one security deposit, that’s all AFAIK.

NY benz and bmw dealers don’t take MSD’s from my experience but you may have luck with an OOS Dealer.

Yes, you can apply MSD in NJ and register in NY. Your taxes will still be calculated based on your NY address.

Thanks guys! I appreciate the input! So I guess when I want to have MSDs, I just have to go outside of NY haha

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Majority of people just go to Jersey

Yup that’s the plan. Any preferred BMW dealers in Jersey that anyone knows of? All I know is Paul Miller, JMK, and Park Ave and their prices aren’t the great.

Wow those look great and without even negotiating yet! This dealership must be handing out cars during month end/year end

they always advertise 0 down/ msd deals. I always check their site. That 550i payment is what im paying for my 535.

Bought in the past from Open Road (Roxbury) and Prestige (Rt 17 in Northern NJ), they just happened to have exactly what I wanted at the time at a decent price. I’ve only serviced at JMK, never bought from them, and their service dept is good.

Check Bimmer fest and B’forums to see if Bloomfield still sponsors them. Pm’ing thru the forum can be a good way to contact an internet-savvy salesperson.

Nice. Wow, 599 is high. Did you get your car earlier, like before the last body style year?

Thank you for the recommendations.

Believe it or not, I’m not really a forums guy. I find them so confusing most of the times. Actually, this is the only forum that I am on.

Just header over to the bimmerfest forum and it’s a whole slew of information. Gonna take a while to navigate haha

Ya ive had mine since Nov 14. Residuals were “high” then, so i thought lol. 39/10 63% 70k msrp 63k sell price.

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im on that forum (same name) what do you need help with? just copy and past what you feel is a good deal from the link provided and send that to your salesman or send an email blast to each dealer your willing to do business with.

Thanks for your help @Yinzer. At least when your lease ends, you can jump into the new body 5 series if that’s what you want, for less since it’s gonna be year 2 of the new body style.

I want to know where I would post where dealers can see. I see a separate “ask the dealers” sections but I only see recall discussions. Maybe I’m not looking at it correctly.

Do you think it’s possible to get on for 36/12,000 for <$330? $0 down of course.

Post in the ask a dealer section. Yeah we might get the new 5 (G30) but it will the same as the current 7. Not really excited about it. Youd have to look at a demo 528 with max msd and 10k miles to get close to that. You can always reach out to a Cali forum sponsor and have the car shipped.

I feel like all these car companies are making the same exact car in small, medium, or large at this point.

I miss the days when a 3 series, 5 series, and 7 series looked distinct.

Hmm, I would really like the 12k mileage and not to get a “used” car. I can up my budget to like $350 if that will help?

Is California the best place to lease a car from?

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Cali is cheapest but it will more than likely be RWD and not have the cold weather package.

I think you budget is doable, assuming 18-20% discount and max msd. Reach out to Greg Poland about his inventory in the link provided.

Wow thank you for all your help. I really do appreciate it! Just one last question, do you know how much it is to ship to Westchester County, NY on average?