12-04-2014, 10:27 AM | #1 |
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Gap Insurance on a lease -- Should I get it?
Anybody have any experience with Gap Insurance when leasing? Im about to pick up new M5 and anticipate this topic will come up when Im signing the papers? Does BMW charge extra for this ? thanks
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12-04-2014, 10:33 AM | #2 | |
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12-04-2014, 10:45 AM | #3 |
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here in the UK, you would have to buy it separately. most insurers replace the car and the full purchase price if lost or written off in the first 12 months.
but yes, technically, you are responsible for the shortfall between what your insurers will pay and what's outstanding on the finance /lease.
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