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Update Your Insurance After a Buyout · The Lease End Minute

• 0:00
  Joe: This is the Lease End Minute. I'm Joe from Champion Auto Finance.
• 0:04
  Joe: Just bought out your lease? Call your insurance company.
• 0:07
  Joe: When you leased, the leasing company was listed on your policy. After a buyout, that changes. If you financed the purchase, your new lender will usually need to be listed instead. If you paid cash, you own it outright.
• 0:19
  Joe: Also, if your lease came with gap coverage, it typically ends when the lease ends. If you're financing, ask whether gap coverage makes sense for your new loan. A five-minute call now saves a big headache later.
• 0:31
  Joe: Champion Auto Finance is not a lender. Approvals and terms are subject to lender underwriting.