It seems like no one brings this up when it comes to leases, even though tesla has gap insurance built into their leases.
What Happens If You Total A Leased Car?
One problem arises when a vehicle gets totaled. Generally, an insurer will write off a car as a total loss if it needs to pay more than 65% of the car’s value to repair it. If the car needs $30,000 in repairs but is only worth $36,000, then the vehicle might be declared a total loss.
Remember, however, that you are contractually obligated to make payments to the leasing company, and this obligation does not disappear simply because your leased car is totaled. Instead, many people end up owing to the leasing company money after a bad accident. This means that many people end up further behind financially if a leased car was totaled than they would have ended up had their own car been totaled.