Offers are subject to change or cancellation without notice. See your Lexus Dealer for complete details.*
Paying a security deposit of less than the advertised amount will result in a higher lease APR. Payments will be adjusted accordingly.**
*Limited time lease offers available through Lexus Financial Services, on approved credit. Representative lease offer based on a new and previously unregistered 2024 Lexus RX 350 AWD Premium Package [sfx ‘P’]. Lease Vehicle Price is $63,268. 2.4% (includes 0.5% event rate reduction) // 0.9% (includes 1.5% loyalty rate reduction for qualifying guests** + 0.5% Event rate reduction***) APR for 24 months. Monthly lease payment is $718 // $658 – which includes: $2,205 freight and PDI; $100 A/C charge; regulatory fees (up to $38.58); lien registration fees (up to $75, including lien registering agent fee); as well as all other applicable fees, levies and duties (all of which may vary by region and dealer). License, insurance, registration, and applicable sales taxes are extra. $8,210 // $8,227 down payment or equivalent trade-in, $0 security deposit and first monthly payment due at lease inception. Total lease obligation is $25,435 // $24,019. Total of 24 monthly payments required during the lease term. 32,000 kilometer allowance; charge of $0.20/km for excess kilometers. Lexus Dealers are free to set their own prices. Limited time offers only available to retail customers at participating Lexus Dealers. Dealer may lease for less. Dealer order/trade may be necessary (but may not be available in all cases). Conditions apply. Offer ends July 31st, 2024 and is subject to change or cancellation without notice. See your participating Lexus Dealer for details.
**Lexus is pleased to offer current lease and finance Guests a 1.5% loyalty rate reduction when you lease or finance another Lexus vehicle through Lexus Financial Services. This offer is non-transferrable and is valid at participating Lexus Dealers. This offer can be combined with certain other Lexus Canada incentives, some exceptions apply. Lease or finance rate will be reduced by 1.5% (to a minimum of 0%). See your Lexus Dealer for full details and exclusions. Employees of Toyota Canada Inc., Lexus Financial Services and Toyota Motor Manufacturing Canada Inc. (including immediate family members) are not eligible for this incentive. This offer is valid for any person who currently leases or finances a Lexus vehicle through Lexus Financial Services.
***Limited time offer provided through Lexus Financial Services, on approved credit. Up to 0.5% event rate reduction is available on any new unregistered 2023 model year vehicles, new unregistered 2024 IS / RC / ES / ESh / NX / RZ/ RX / RXh models, as well as new unregistered 2025 NX leased from a participating Lexus Dealer in Canada and delivered by July 31st, 2024. Customer will receive a 0.5% reduction off lease rates currently available through Lexus Financial Services to a minimum of 0% APR. Under no circumstances can rates be reduced below 0% APR. Limited time offer only available to retail customers at participating Lexus Dealers. Conditions apply. Offer is subject to change or cancellation without notice. See your participating Lexus Dealer for details.
ΩWhat is a Security Deposit?
Security Deposits are funds (of a pre-determined, required amount set by Lexus Financial Services) paid at the lease inception that reduce the lease rate used to calculate the lease payments. At the end of your lease, the total Security Deposit amount will be fully refunded to you (less any amounts due or owing).
You may provide multiple security deposits (of the pre-determined amount), up to a maximum of 10. Each security deposit (of a pre-determined amount) will help to reduce your lease rate by 0.15%, for a maximum rate reduction of 1.5%.
The example below shows how using multiple security deposits will help to reduce your lease rate. The security deposit amounts in this example are based on the 2023 Lexus RX series, which has a required amount of $1,000 per security deposit. The required amount per security deposit varies by model.
Please contact your local Lexus dealer for more information on security deposits or visit the Build & Price tool on Lexus.ca.
How does a Security Deposit differ from a Down Payment?
Unlike security deposits that are refunded at the end of the lease, a down payment is a non-refundable cash amount of money which is paid at the time of delivery of the vehicle to reduce the monthly payment for a vehicle that is financed or leased. The down payment lowers capitalized cost which results in a lower monthly, bi-weekly, or weekly payment amount, however, does not lower the lease rate.
There are no restrictions on the minimum or maximum amount of a down payment.
Can I combine a Security Deposit with a Down Payment?
Yes, you can pay multiple security deposits as well as a down payment at the start of your lease to lower your lease rate while also lowering your lease payments.
