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Originally Posted by Josh (PA)
Sort of off topic, but how does insurance handle a totaled lease? Do they pay out the residual + remaining lease payments?
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Car has a payoff and ACV so no different in that regard than a loan. Only difference is that you’re most likely under water on a lease if it is a car w/ aggressive residual. Gap insurance would pick up the difference if you have it. Some companies include in their leases automatically (BMW) but some might not.