article thumbnail

Lease + Gap Coverage?

Shawn Ryder

Understanding the interplay between leasing and gap coverage is crucial to preventing potential financial setbacks in the unfortunate event of a total loss. This is where gap insurance comes into play. It covers the difference, or gap, between what you owe on your lease and what the insurance payout is.

article thumbnail

Does it make sense to lease?

Shawn Ryder

Disadvantages of Leasing a Vehicle While leasing has many advantages, there are drawbacks that potential lessees should consider: 1. For further insights on financial decisions related to car ownership, explore our articles on GAP insurance considerations and the importance of financial literacy in car buying.