Toyota Highlander -- Gap Insurance

harrierhound

Hi, was hoping someone out there could give me advice about GAP insurance. I'm about to lease a 2016 Highlander in the Los Angeles area. I understand that unlike Subaru (the other new car I just leased), Toyota doesn't include GAP coverage in the lease. I called my auto insurance company (AAA -- Auto Club of Southern CA) and they told me they don't offer GAP insurance in California. So, my question is, do I have to get it through the dealer/Toyota, or are there other options? (I'm assuming I have to have it with a lease, right?). If through the dealer/Toyota, is there a set price, or should I negotiate it? And if there are other good options, that are less expensive, I'd be grateful for any direction. Thanks a bunch.

tjc78

I'd get it. As with anything the price is usually negotiable. Keep in mind (unless it changed since the last time I leased a Yota) Toyota financial has no disposition fee as many (most) other leasing companies do. In other words it comes out as a wash financially, instead of paying the dispo fee you pay for GAP.

kyfdx

harrierhound said:

Hi, was hoping someone out there could give me advice about GAP insurance. I'm about to lease a 2016 Highlander in the Los Angeles area. I understand that unlike Subaru (the other new car I just leased), Toyota doesn't include GAP coverage in the lease. I called my auto insurance company (AAA -- Auto Club of Southern CA) and they told me they don't offer GAP insurance in California. So, my question is, do I have to get it through the dealer/Toyota, or are there other options? (I'm assuming I have to have it with a lease, right?). If through the dealer/Toyota, is there a set price, or should I negotiate it? And if there are other good options, that are less expensive, I'd be grateful for any direction. Thanks a bunch.

TFS is one of the few captive finance companies that don't include GAP with their leases. The optional GAP through Toyota dealers seems expensive ($400-$600 is what we hear), but I'm not sure you have any alternatives. If the GAP the dealer sells is coming from TFS, that also writes the lease, that is a positive, IMO.

You don't have to have it, but I wouldn't lease without it. Then again, that's easy for me to say, because I don't lease Toyotas.