Hi everyone just wanted to ask what you guys thought about getting or not getting gap insurance with a 2021 Toyota Tacoma I’ve been quoted 50 a month by one dealer for the 3 year lease or some that went even lower so I’m trying to understand what’s a good price for it if I do get it
Which banks are you going with? Shouldn’t cost more than $20/month
Get a quote from your own insurance company, or shop around. Getting gap insurance shouldn’t even be a question. But $1800 for 36 mths? 
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Everybody had been saying that one’s own insurance has gap, but the gap from the insurance covers the portion of the gap, not the whole amount. At least that is what I’ve heard
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Gap Insurance from your Insurance Company , $200/yr approx
Gap Insurance from Toyota Motor $600yr /approx
Well now if you really like giving TMC $400/yr, go ahead.
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$50/mo for gap, that’s highway robbery. That’s like 30% of the monthly payment on my 
(have Ally so no need to purchase gap)
There’s no point making sweeping generalizations about insurance. It all depends on the language in the policy.
Besides, Toyota’s own language only states their policy may “reduce” or eliminate the difference between the payoff and insurance payout. And that their policies vary by state.
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Yeah but I understand that but I have 2 different opinions of it like someone told me I shouldn’t get it cuz it’s a waste money since the Tacoma’s hold there value pretty well and he gave me an example of 2019 n 2020 models with about 15k miles being sold to close to the price of a new one or the same price but I’m honestly open to learning what y’all experienced folks know this would be a first lease for me so I’m trying to figure out what’s the best path to take
That may have some truth now… but how long do you think that will last? Doubt any of us that kinda crystal ball 
plus used car prices are correcting now…
Bottomline - are you willing to take the risk of a total loss and be on the hook for thousands of dollars? It’s really your call…
Personally IMO insurance was always meant to be for catastrophic outcomes. Your car gets stolen and totaled, your house burns down, death and disability etc etc.
Insurance isn’t necessary for like a 0.3% chance you have a $2,000 gap on a well-bought Tacoma in its first year and probably close to $0 in its second.
But ask 10 people and you’ll get 11 opinions.
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Well I am leaning towards getting it the dealer though wanted 50 Dollrs a month for it for the 3 year lease
As an insurance broker most of the policies I have seen from the insurance companies that offer gap will have some sort of limit or cap. Most of them are 25%-30% over current value of the loss vehicle.
Benefits of getting it on your insurance plan is cost (most policies will only charge about $25 a year to add this).
Disadvantage is the limits of pay out and the fact that your deductible will still apply. Most of the dealer plans will cover the full gap amount as well as the deductible. Most companies also will only add this coverage at the time the car is purchased. So if you change insurance companies before you sell the car the gap is gone.
However it does seem unlikely that you will have a gap of more than 25% unless you buried a ton of negative equity into the deal.
Also note that some of the top tier policies will include new car replacement (or give the option to add this) for the first 24 months/ 24,000 miles. So in the event of a total loss you would be paid out the cost of a new vehicle.
My Insurance had a $7 cost per 6 months on my 2020 Tacoma $36K MSRP-I cancelled it as ALLY had GAP insurance into the lease…for $50/mo just add more vehicle options 
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If you lease with U.S. Bank (who has the highest residuals) GAP is included free.
Bear
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Oh for real I think the dealer that gave me the best numbers did mention it was a us bank lease mm okay I’ll still ask to double check what about the scratch protection wear and tear package they sell is it good or do you guys recommend something else?
With US Bank, you probably would want to buy the lease wear and tear. I had customer who got charged $485 because of 1 scratch on the fender
"fujifilm
(Gap insurance for Toyota tacoma)
If you lease with U.S. Bank (who has the highest residuals) GAP is included free.
Bear"
Can you elaborate on this? I’m going to be leasing from Toyota soon and will be faced with this. Is there a link or something anywhere that says US Bank provides GAP as the Lessor for all their leases?
Wow $485 for a Scratch? that sounds really out there as Kia VW and others charge about $200 for a long scratch.
And $485 for a scratch versus $699 for W&T? I think your customer made out.
There’s so many things wrong here…
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Pls enlighten me I’m new to this lease so I’m trying to understand as much of it as I can