GAP insurance pays off the lease balance if a leased vehicle is stolen or totaled.
GAP insurance also typically covers any penalties for early termination. GAP stands for Guaranteed Auto Protection and represents the “gap” between what your insurance company pays and what you owe the lessor at the time the car becomes history — potentially tens of thousands of dollars. The deals that captive lease companies offer for GAP insurance as part of the lease typically do not cost more than you could get from your own insurer, so it often makes sense to take GAP insurance there.
Learn more
See if your question has already been asked and answered
Your question has been successfully submitted to Ask.cars.com. It will now be reviewed by our editors and we'll answer it soon if we think it's a useful question. You will be notified via e-mail when the answer is posted. Ask.cars.com tackles your questions about new cars and the car-buying process. Unfortunately we can't answer questions regarding:
Have our experts answer any of your questions about new cars.
Don't worry — we won't publish your last name or email.
