Will my insurance be more on a leased car?
For the first time ever I am debating whether or not to lease a new car as I have found a great deal on a new vehicle for 36 months. My question is two-fold. Will insurance be more costly as I will not be the owner of the car? Secondly, would I be wise to buy GAP insurance to cover any shortfall if the worst scenario were to happen?
Asked on 24 July 2019 by Dag Hammar
Answered by
Tim Kelly
It will make no difference whatsoever if you are not the owner of the vehicle, as the risk is still the same. Most definitely buy GAP insurance, by a "re-instatement to purchase price" product. Which will give more than adequate protection.
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