Originally Posted by jlewisinsyr
This is completely wrong! All general consumer leases are closed-end, meaning the final value is set and regardless of market value, there is no further obligation. It is possible to get an open-ended lease, but they are VERY rare and gap insurance would mean nothing in this case as that's not what gap insurance is..
See my other reply about the insurance. I will check at work tomorrow on open vs closed end leases. I made my statement based on the ads in the auto section of the local paper, all say they are for open ended leases.