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Gap insurance on a lease car?
seanwinf
Posts: 73 Forumite
Hi all first time leasing a car and not sure if i need gap insurance. The car is £25k and a citroen so i know the depreciation will be abit! Its a 1 year lease on 10k miles not sure what other details you will need to help?
0
Comments
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Check it's not covered anyway in the lease or if it's a brand new car if your insurer guarantees a like for like replacement if it gets written off/stolen in year one.0
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Replacement car might not apply as leased.
OP, what does your lease say about total loss or theft during your lease?0 -
Gap coverage is designed to cover the gap between what you have on your car and its actual cash value. Where the coverage differ is in the amount they will provide in the event of a total loss.0
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