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For many drivers near Elgin and Streamwood, buying a new car can be a daunting process. In addition to finding the right vehicle, for the right price, you'll need to look over and understand all sorts of options, insurance policies, and other protections. If you're anything like most drivers we know, you've probably wondered, "What is gap insurance?" Simply put, gap insurance covers the difference between the estimated real value of a vehicle and the amount you still owe on your financing. We've broken down all the details below.

What is the scenario when your vehicle lease ends? Many consumers enter into a Toyota lease without understanding what happens once the term is over. Our dealership always wants every customer to understand the value of a lease and the accompanying flexibility.

A lease allows you to drive a new Toyota vehicle without the long-term costs or higher monthly payments of a purchase. Once the lease is over, you still have many options.

Let's face it; the decision to purchase a vehicle with a loan or lease it can be stressful. Once you have found that perfect vehicle that fits your lifestyle, your needs and your preferences, how do you finance it?

Some advantages to buying a vehicle with a loan include:

• When your vehicle is paid off, you own the vehicle.
• There is no restriction of mileage on the vehicle.
• There is more flexibility in buying a vehicle with a loan.

Some advantages of leasing a vehicle include:

• When your lease expires, you have options, depending on what you want in…