insurance related

[leafstudy]

Hello,

I'm planning to lease 2015 very soon, and have gathered from the forum readings is that the total down/driveoff should be as low as possible (0, perhaps)...this is protect if the car is ever "totaled" due to accident...

Is this understanding correct? Also, should I get "gap" coverage from insurance?

Thanks for your time and help!

 

[Slow1]

I"m not sure I understand your question here... The car should be insured for the same value no matter the terms of the lease.

Now, insurers certainly offer different product - some will cover "replacement value" up to original value if within some time limits, others not so much. The only way to really know what you are buying is to talk to your agent/insurance company. Rules vary from place to place as well.

 

[NX2001]

Hello,

I'm planning to lease 2015 very soon, and have gathered from the forum readings is that the total down/driveoff should be as low as possible (0, perhaps)...this is protect if the car is ever "totaled" due to accident...

Is this understanding correct? Also, should I get "gap" coverage from insurance?

Thanks for your time and help!

You would be correct. Nissan on their leases have been applying internal GAP insurance to LEAFs. As such, if you lease the vehicle, drive off the lot, and it gets totaled, you are out any money you put down and your deductable, but that is it. Your insurance company, the other people's insurance, and Nissan all argue about how much money changes hands, but you're protected.

As such, no need for GAP insurance.

Enjoy your LEAF!

 

[leafstudy]

Ok, so following is probably the way to go:

1. drive-off/down-payment: As low as possible

2. No gap coverage required for insurance purpose

3. Maybe go with dealer provided dent-coverage package (about $600)

Could someone please confirm these two points. Anything else I need to watch out for while leasing

 

[kubel]

3. Maybe go with dealer provided dent-coverage package (about $600)

Don't do it.

1) Dents that can be repaired with paintless dent repair are covered as normal wear under Nissan lease terms.

2) If you re-lease another Nissan, Nissan will forgive $500 excessive wear (including dents).

3) In the rare case that a dent repair costs over $500 (multiple dents that can't be repaired with paintless repair), you have insurance for this- make an insurance claim since your deductible can't be more than $500 with a Nissan lease.

The reason you get insurance is to cover risks that you normally couldn't afford. In the case of dent insurance, it's unlikely that dents will create a risk that would break the bank- and if they do (collision, hail damage, etc...), it's something car insurance would cover anyway.

 

[LeftieBiker]

Another perspective: if you don't know you will re-lease a Nissan, and can get excess wear & tear insurance cheap, get it. Why? Nissan's guidelines are more strict than their car companies' and their paint and upholstery are very thin. They will 'ding' you for *scratches* if they are deep enough to catch a fingernail, and any hole in the interior is charged. If the wear & tear insurance is pricey, then self-insure for those things.