Do I need GAP insurance on a lease?

Many leases already include GAP coverage, because a leased car's value can fall below what you owe if it's totaled or stolen. Check your lease contract for a GAP or 'gap waiver' clause before buying separate coverage. If it isn't included, GAP is worth considering. Note that GAP generally won't refund any down payment you made, which is one reason many people keep lease down payments small.