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Each security deposit reduces money factor by 0.00007
- You can put maximum 7 MSDs thus maximum reduction in MF =0.00049
- A security deposit is calculated from monthly payment.
Example:
-If monthly payment is $100, then each security deposit will be $100.
-If payment is $51, then $100
-If $49, then $50.
- You can put a small amount of down payment to reduce MSD amount. Example:
if payment is $603, then may be $300 down payment will bring monthly payment down to $599. This will change security deposit from $650 to $600 ($50 stays in your pocket that way and a small down payment won't hurt)
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