In Reply to: Re: DITTO - lease figures posted by Nate on October 20, 1999 at 11:28:45:
I think what happens is the ins. co will have to pay off the car at the buyout price (or whatever it's called). That's when the gap insurance comes into play because that number is most likely higher than what the car is worth. Gap insurance is included in BMWFS leases, and included in most other leases as well.
: "The best reason for no cap is if your car gets stolen or totalled the moment you take it out of the dealership, you will loose that cap money. "
: If your car gets totalled, aren't you still responsible for making the monthly payments as outlined in the lease (in addition to returning the car in repaired condition at or before lease end)?
: I guess I never thought about what would happen in that situation...
: Thanks for any insight.