: You put down less than 20% of the car's price.
: Gap insurance pays the remaining debt to your lender so you aren't stuck paying for a car you no longer own. When You Should Buy It
: Most lease agreements benefit from or even require gap insurance because depreciation often outpaces your payments.
: You drive significantly more than average, which accelerates the car's loss of value. When You Can Skip It You likely do not need gap insurance if: Should You Buy Gap Insurance for Your New Car?
Consider gap insurance if any of the following apply to your financing or vehicle choice:
: Your repayment period is 60 months or longer .
Should You Buy Gap Insurance -
: You put down less than 20% of the car's price.
: Gap insurance pays the remaining debt to your lender so you aren't stuck paying for a car you no longer own. When You Should Buy It should you buy gap insurance
: Most lease agreements benefit from or even require gap insurance because depreciation often outpaces your payments. : You put down less than 20% of the car's price
: You drive significantly more than average, which accelerates the car's loss of value. When You Can Skip It You likely do not need gap insurance if: Should You Buy Gap Insurance for Your New Car? should you buy gap insurance
Consider gap insurance if any of the following apply to your financing or vehicle choice:
: Your repayment period is 60 months or longer .