Kind of, it would reduce the cap cost, so you’d pay less monthly tax and less rent charge. But the thing to consider is the risk of the vehicle getting total’d out and you having no recourse to recoup the money if the appraised value of the vehicle is substantially lower than the payoff at time of loss. GAP would only make the captive whole, not you.
We always recommend having the dealer cut you a check when trading in a car, or selling it alternatively (Carvana, Vroom, other dealer, privately, etc).
unless, it’s valued high enough to cover an entire one-pay lease, in which case you’d have zero payment and have no risk of loss.
Are you talking about your Optima?