Compare / Leasing vs Financing: Insurance Differences
Leasing vs Financing: Insurance Differences
Both require comprehensive and collision, but lessors typically demand higher liability and gap coverage.
| Feature | Lease | Finance |
|---|---|---|
| Min liability | 100/300/50 typical | State minimum often OK |
| Gap insurance | Usually required | Recommended early years |
| Deductible cap | Often $500 max | Lender preference only |
| Coverage required until | End of lease | Loan paid off |
Best for Lease
Drivers who want predictable monthly costs.
Best for Finance
Drivers who plan to own long-term.