I have leased a car for the past 3 years.
The lease ends today — I will be returning the car without getting another one.
There are several reasons behind this decision.
I was allotted 7,000 miles per year as part of my lease (21,000 miles total) but I used less than 10,000 miles total over 3 years. COVID and remote work have changed the way people commute and I no longer have the same ‘need’ for a car.
I am fortunate to live in a small town — most destinations are within a few miles of my house. This makes it relatively easy to get around by walking, running, or biking.
Cost savings are another big factor. I will save thousands of dollars per year in car payments and gas expenses, which can be reallocated into areas that are more important to me.
There is a lot of research showing that material things don’t make you happy anyway — especially not fancy cars — so I’d rather invest in experiences and relationships with family and friends instead.
On the occasions when I do need a car, a ridesharing service will likely be cheaper than personally owning a car.
The potential health benefits also play a big role in my decision. Walking, biking, and running to get places will build in natural movement throughout my day. This…
