buickfunnycar

Let me start off by saying I've leased a number of cars over the years and never have purchased gap insurance, as a matter of fact I don't believe it was even offered on the Jaguar, but I could be mistaken.

I'm thinking maybe adding it to this car isn't such a bad idea, although I don't know why,lol.
If worst came to worst and the car was totaled, the money wouldn't be an issue, it's just having insurance instead of coming out of pocket might make more sense.

Thoughts, comments?

N8!

I might have considered it, but I put 35% down when I bought so it wasn't relative in my case.

seinsmeld13

I am a retired adjuster. GAP insurance is very important whether you are American or from elsewhere. I haven't handled a total loss on a leased car in years. Get what you can buy. Gap is available regardless of car make. Your insurance broker will advise you why it is important as he or she sells insurance to protect their client.

buickfunnycar

Thanks for that.
So you're saying deal with my insurance company (AAA) after the fact rather than with the dealer at time of lease?

SYMAWD

GAP insurance is included if leasing through AFS.

buickfunnycar

Good to know then, thanks...more than likely going that route.

Mobilehavoc

It's for this reason that I always insist on paying nothing at time of lease and roll everything into the payments. No gap to insure

rocko76

Lease or buy? If buying, I'd say... it is essentially a solution (or should be) for a problem for people shopping an Audi. If one can't at least put enough down such that depreciation outpaces the value OR be financially unprepared to eat the that delta, perhaps one shouldn't be buying a car at this price point. Insurance companies are in the business to make money, which pretty much guarantees that mathematically, you lose out. Of course, that's the case for ANY coverage, but there is a difference between carrying enough liability such that several hundreds of thousands of dollars of medical bills for the party you may have hit doesn't bankrupt you vs. spending 500-600 in case you are a few thousand upside down in your auto loan. Sure, it may buy some modicum of piece of mind, but it the risk/reward should be relatively slim to those shopping vehicles in this class - and more than likely will be money out the window.

Stratman22

This is why I love this forum. I had no idea this was the case. I'm leasing through AFS and had no idea this was a courtesy to anyone that leases through AFS. I just started my lease in November and contacted my insurance company and added GAP insurance to my car insurance for the vehicle. Looks like I'll be saving a few bucks, I'm glad I saw this when I started the lease rather than when i was ending it!

mikess5SB

I too am leasing through AFS and the GAP insurance is part of the lease. I paid $1000 down so as to have my car ordered, that's it. I've purchased in the past and have bought GAP insurance for the life of the loan (60 mo.) I've had the tendency to sell cars as soon as 2-3 years into the loan and have been able to receive a check back for the unused portion of the GAP insurance.