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 offer 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 $63,918. 1.9% APR for 28 months. Monthly lease payment is $678. Includes: $2,205 Delivery and Destination charge; $100 A/C charge; regulatory fees (up to $38.58); lien registration fees (up to $79.00, 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. $8,128 down payment or equivalent trade-in, $0 security deposit and first monthly payment due at lease inception. Total lease obligation is $27,100. Total of 28 monthly lease payments required during the lease term. 32,000 kilometre allowance; charge of $0.20/km for excess kilometres. 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 is subject to change or cancellation without notice. Offers are effective between October 1, 2024 and October 31, 2024, unless extended or revised. 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.
