Anybody who’s leasing a new vehicle knows how tricky the process can be. Luckily, when you lease a new Subaru vehicle from O’Brien Subaru of Fort Myers, it doesn’t have to be difficult. Our expert team can make sure that you get the best possible deal for your money.
Let’s start with one aspect of leasing that drivers often overlook: gap insurance. Many drivers have never even heard of gap insurance before they decide to lease a new vehicle. Here’s a quick breakdown on what gap insurance is and whether or not you need to buy it for your Subaru Forester.
What is Gap Insurance?
Gap insurance, or guaranteed asset protection, is a very specific type of insurance. In fact, it mainly applies to people who are leasing a new vehicle or who take out a loan for their vehicle. Essentially, gap insurance protects you if you owe more on your lease or loan than the current value of your vehicle.
Let’s say you get in an accident in your new Subaru Forester and total your vehicle. Comprehensive and collision insurance will cover the cost of damages to your vehicle, but gap insurance will cover the rest. That is to say, gap insurance will cover the outstanding costs on your lease or loan, allowing you to pay back your loan and maybe even cover the cost of a replacement vehicle.
Visit Our Subaru Finance Center
If you’re unsure whether or not you should get gap insurance for your Subaru Forester, then visit our Subaru finance center near Estero, FL. Our expert finance team will guide your decision by assessing the specifics of your lease and the current value of your vehicle. Then, we’ll recommend the best course of action for your vehicle needs. Visit us today!