Video explainer: why the gap is often small after a lease buyout
A quick explainer on gap coverage after a lease buyout — what gap insurance does, why the gap is often small after a buyout, and when it is still worth it. From Champion Auto Finance.
Read the full guide → · All explainer videos
Transcript
Do you need GAAP insurance after a lease buyout? Here's how to decide in about 30 seconds. GAAP coverage pays the difference between what your car is worth and what you owe if the car is ever totaled.
After a buyout, you usually owe close to the car's value, so the GAAP is often small and sometimes zero. But if you rolled taxes and fees into the loan or put nothing down, GAAP can still be worth it for the peace of mind. Champion Auto Finance helps you structure your buyout with or without GAAP across New Jersey, New York, Pennsylvania.
Learn more at ChampionAutofinance.com.
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