“Deciding whether you need gap insurance depends on your financial situation. Would you be able to pay the $2,000 gap on your loan if your car was totaled tomorrow? Or would paying it cause a significant amount of financial hardship?
If it would be difficult to pay the gap, you should get gap insurance.
Since you will be buying out your lease, you can check with the dealership or lessor to see if gap coverage is already included on it. If not, they may be able to add it for you.
If it’s not something they can offer, you can find gap insurance through a car insurance company. Not every carrier offers gap insurance, so you’ll need to shop around.
Keep in mind that some carriers also call gap insurance “”loan/lease coverage.”” Terms and conditions also vary, so be sure to read the fine print. “