Multiple Security Deposits (MSD) in New York?

[mllcb42]

@max_g

AFAIK, the law doesn’t ban NY dealers from accepting MSD. It just says the security deposit cannot exceed $750 or something like that.

My understanding is that it legally prevents them from taking more than one deposit.

[Harry657ha]

Glen cove avoid. Karp they don’t have the best prices.

[max_g]

This deal had 2 MSD, third one would have exceeded $750.

Nissan Frontier Pro4x - $45,420 MSRP, 18/10 Onepay - $5742 (NY) ~4.5% off MSRP

After all my searching, ended up finally finding a deal locally that worked. 4.5% off MSRP with no addons or markups. Could only do 2 MSD’s because of NY, onepay would have been $45xx with 9 MSD’s. Overall happy with the deal Pro4x with convenience package & tech package (no premium) [Frontier]

[mllcb42]

[IAC_Scott]

@Justlooking

That “security” deposit is going to magically transform into a down payment

[ddss699]

If I buy the car from a dealer outside of New York, can I apply MSDs? I’d be registering in New York.

[max_g]

Depends on the lessor and their interpretation of the relevant statute. Last I checked, BMWFS and MBFS ok, Infiniti no.

[ddss699]

That’s helpful. Thank you!