Buying gap insurance is a strategic financial decision that depends on whether you are "underwater" on your vehicle loan—meaning you owe more to your lender than the car is actually worth.
: Most lease agreements benefit from or even require gap insurance because depreciation often outpaces your payments. should you buy gap insurance
: 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 Buying gap insurance is a strategic financial decision
: If your car is stolen or totaled, standard comprehensive insurance only pays the current market value. should you buy gap insurance