Find out if you have a coverage gap on your vehicle lease. Calculate the difference between your car's actual cash value and what you owe on the lease.
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GAP (Guaranteed Asset Protection) insurance covers the "gap" between:
If your car is totaled or stolen, your insurer only pays the ACV. Without GAP, you'd owe the difference out of pocket.
Most manufacturer captive finance companies (Toyota Financial, BMW Financial Services, Ford Motor Credit, etc.) automatically include GAP coverage in the lease agreement at no extra charge. Always check your lease contract under "Total Loss" or "GAP" provisions.
Third-party leases, credit union leases, or leases through independent finance companies often do NOT include GAP. If your lease doesn't include it, GAP insurance from an insurer (not the dealer!) costs $20-60/year — far cheaper than the dealer's $600-800 add-on.
Use our full lease payment calculator to get your complete monthly payment breakdown including all fees.