Lease - how much gap do I need
Discussion
I'd say £25k doesn't sound crazy, especially as it's stepped.
Your worst case scenario is that the car is written off and the insurance offers you no more than the trade value of the car at the end of the lease, while the finance company wants you to pay them for the most expensive approved used car at basically list.
The cheapest 2014 car on the Trader, with "only" 45k miles, is £23k. The most expensive 2014 car is £35k, and I could foresee Audi asking for all of that. So you have an easy £15k gap between the lowest trade price and high end retail. That's the minimum I'd be comfortable with, and while I'm sure you could negotiate/argue the finance company's settlement figure downwards, you're also paying the gap insurer to make the hassle go away. If their value was even more optimistic than this, while you were also lowballed by your insurer, it would cease to be your problem.
You also have the matter of the two years' payments - £7k?
Unless there is a crazy progression between £15k and £25k of cover I'd probably go a little higher to be on the safe side.
Your worst case scenario is that the car is written off and the insurance offers you no more than the trade value of the car at the end of the lease, while the finance company wants you to pay them for the most expensive approved used car at basically list.
The cheapest 2014 car on the Trader, with "only" 45k miles, is £23k. The most expensive 2014 car is £35k, and I could foresee Audi asking for all of that. So you have an easy £15k gap between the lowest trade price and high end retail. That's the minimum I'd be comfortable with, and while I'm sure you could negotiate/argue the finance company's settlement figure downwards, you're also paying the gap insurer to make the hassle go away. If their value was even more optimistic than this, while you were also lowballed by your insurer, it would cease to be your problem.
You also have the matter of the two years' payments - £7k?
Unless there is a crazy progression between £15k and £25k of cover I'd probably go a little higher to be on the safe side.
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