Disclosure: This post contains my personal experience and opinions. Your financial situation may be different, and what worked for me may not be the best choice for everyone.
Eighteen months ago, I made a decision that many people told me was a mistake.
I leased a car in retirement.
Some viewers thought I was making a smart financial move. Others believed I was throwing money away. Now that I’ve lived with the decision for a year and a half, I can finally answer the question everyone was asking:
Would I do it again?
Watch the Video
Why I Chose to Lease Instead of Buy
When I made the decision to lease, I wasn’t trying to find the cheapest way to own a vehicle.
I was trying to reduce uncertainty.
That’s an important distinction.
Retirement changes the way we think about money. During your working years, an unexpected repair bill is frustrating, but another paycheck is usually on the way. Once you’re retired, a $3,000 repair can disrupt your monthly budget in a way it never did before.
That realization completely changed how I approached this decision.
If you’ve followed my channel for a while, you know I’ve talked openly about financial decisions I’ve made in retirement—including both the good ones and the mistakes. In fact, I recently shared why retirement mistakes are often much more expensive than they appear, simply because we have less time to recover from them.
The Numbers After 18 Months
Here are my actual lease terms:
- $380 down
- $454 monthly payment
- 36-month lease
- 10,000 miles per year
After 18 months, I should have driven approximately 15,000 miles.
Instead…
I’ve only driven about 12,500 miles.
That means I’m roughly 2,500 miles under my allotted mileage.
One of the biggest criticisms of leasing is the mileage restriction. At least for my lifestyle, it simply hasn’t been an issue.
Retirement looks different than it did when I was commuting to work every day.
Peace of Mind Has Value
One thing I didn’t fully appreciate before retiring was how valuable predictable expenses become.
Because my vehicle is under warranty:
- I don’t worry about major repair bills.
- I’m not wondering when I’ll need expensive brakes or tires.
- I know exactly what my transportation costs will be each month.
Can you put a dollar amount on peace of mind?
Probably not.
But after retirement, I think it’s worth more than many people realize.
Sometimes the mathematically cheapest option isn’t the option that lets you sleep best at night.
Leasing Isn’t Right for Everyone
This isn’t a video trying to convince everyone to lease.
There are legitimate reasons to buy instead.
If you typically keep a vehicle for ten or fifteen years, purchasing will often make better financial sense over the long run.
Leasing also comes with:
- mileage limits
- monthly payments
- no ownership unless you purchase the vehicle at the end
Those are real trade-offs.
The important point is that retirement decisions are rarely one-size-fits-all.
Why I Built the Retired and Trying Companion
When I was making this decision, I watched countless YouTube videos.
Every expert seemed certain.
One said:
Never lease.
Another insisted:
Always lease.
Others argued for buying used, buying new, or paying cash.
Eventually, it all became noise.
That experience helped inspire something I’ve been working on for retirees: the Retired and Trying Companion.
Instead of telling you what to do, the Companion asks questions.
It helps you think through your own situation, your own budget, and your own priorities.
In this video, I even asked the Companion the same leasing question I faced 18 months ago. Rather than giving a simple yes-or-no answer, it walked through the trade-offs before suggesting that leasing aligned with my goals of predictable expenses and reducing financial surprises.
That’s exactly how I wanted it to work.
If you’d like to try it yourself, you can ask up to five questions free.
Retirement Is About Managing Risk
If you’ve watched my videos for any length of time, you’ve probably heard me say that retirement isn’t simply about maximizing every dollar.
It’s about balancing money with quality of life.
I’ve made financial mistakes.
I’ve sold vehicles.
Bought others.
Rolled debt into my home equity loan.
Like many retirees, I’ve learned some lessons the hard way.
Those experiences have made me much more interested in reducing financial surprises than chasing the mathematically perfect answer.
That mindset influenced my leasing decision more than anything else.
So… Would I Lease Again?
Yes.
After 18 months, I would absolutely make the same decision again.
Will I lease my next vehicle?
Maybe.
Maybe not.
I’ll evaluate that decision when the current lease ends.
But today, looking back with the benefit of experience, I don’t regret leasing for a second.
Every Retirement Decision Has Trade-Offs
Cars are just one example.
The same thinking applies to housing, budgeting, healthcare, travel, and dozens of other retirement decisions.
There usually isn’t one perfect answer.
There is only the answer that fits your circumstances.
That’s one of the reasons I enjoy creating videos for this community. We can learn from each other’s experiences while recognizing that our situations aren’t identical.
If you’re wrestling with another retirement decision, you might also enjoy these articles:
- Retirement Mistakes Are More Expensive Than You Think
- 10 Choices That Let Me Live on Social Security
Final Thoughts
Leasing wasn’t the cheapest option.
It wasn’t the only option.
But for me, it has been the right option.
Retirement has taught me that the best financial decision isn’t always the one that saves the most money.
Sometimes it’s the one that gives you confidence, predictability, and a little more peace of mind every day.
What about you?
Have you ever leased a car? Would you consider leasing in retirement, or do you believe buying is always the better choice?
I’d love to hear your thoughts in the comments below.
