Tool
Leasing and GAP: how much is missing after a total loss?
Enter the purchase price, the market value and the outstanding lease balance.
€
€
€
Still owed on the lease
The car: purchase price €40,000
- Casco pays about€28,000
- Left on the lease€5,000
- Short of the purchase price€12,000
GAP covers the difference — up to the outstanding lease or the purchase price, depending on the policy.
How it is calculated
After a total loss Casco usually pays the market value at the date of the event, less the excess. Gap to the lease = outstanding balance − market value. Gap to purchase price = purchase price − market value. The calculation is illustrative.
The calculation is illustrative.
