Timeline for Suppose leased car is totalled: what are financial implications?

7 events

when toggle format	what		by	license	comment
Aug 26, 2020 at 13:03	history	edited	Bob Baerker	CC BY-SA 4.0	Formatting
Jun 11, 2019 at 17:20	comment	added	Jan		Would tell there is no GAP possible on used cars in EU. We do not have so reliable cars and they lost value quickly (ex. even Volvo has official end of live around 150000km).
Jun 10, 2019 at 20:50	comment	added	David W		GAP insurance is primarily a player for long-term new vehicle loans (typically greater than 60 months) and/or low down payment loans wherein the buyer has little to no equity. GAP insurance is less relevant on purchases of good quality used cars where the biggest, "new-car-off-the-lot" depreciation has already been "paid" by the original purchaser.
Jun 10, 2019 at 17:21	history	edited	Jan	CC BY-SA 4.0	Typo fixes
Jun 10, 2019 at 17:08	history	edited	Jan	CC BY-SA 4.0	Mixed comments + a bit more real live experiences.
Jun 10, 2019 at 12:49	comment	added	ivanivan		We have "gap insurance" here in the US, typically required (if not recommended) when buying a car and due to depreciation you will owe more for the car than it is worth (ie, you buy a new car and drive it off the lot and total it 30 minutes later). Assuming you have proper gap insurance, you'll be out your deductible but not much else.
Jun 9, 2019 at 18:06	history	answered	Jan	CC BY-SA 4.0