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Destroyed or Stolen Vehicle

If your vehicle is completely destroyed or stolen, then it will be considered as an early termination unless you have a GAP insurance. You will be subjected to the same penalties and payments as described in the previous section if you do not have a GAP protection. GAP insurance serves as a “loss waiver” and covers any additional amount that you might owe after your insurance company pays off.

So it is always helpful to have a GAP insurance. If your lease contract does not automatically include GAP coverage, then check with your auto insurance company or bank.

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