Can a Pensioner Lease a car?

Can a Pensioner Lease a Car?


A question that we are frequently asked here in Kardi Leasing is “Can I lease a car if I am retired? ” Or “can I lease a car if I am in receipt of a pension?”.  The answer is YES!


If you have a good credit record and you have a stable income or adequate savings a lease provider will be happy to deal with you. It is illegal to discriminate on age so a pensioner’s lease will cost the same amount as anyone else.


Is car leasing right for me?

Is contract hire and leasing good for a retired person? The answer to this question is yes. Whether you are working or retired, leasing remains the same. A major benefit to contract hire is that it is a fixed cost approach. Once you select your lease agreement your only additional expenditure on the vehicle will be fuel and insurance. You will also be responsible for maintenance if you chose a non-maintained agreement.


What is the main difference when leasing as a retired person?

For the most part, car leasing is the same whether you are retired or in fulltime employment but there are some differences. Every driver’s licence will expire once they reach the age of 70 and then your licence will require renewal every 3 years. Renewal is free but there is always the possibility that renewal will not be approved. You must be aware of the fact that if your licence, for any reason is not renewed, you must return the vehicle and you will be liable for early termination fees. As the lease holder must be the main user of the vehicle, you cannot keep the agreement in your name and have somebody else use the vehicle. Thankfully this is a rare occurrence, but it is important to keep in mind.


What happens at the end of a car lease agreement?

Approximately 3-6 months before the end of your agreement, our renewals team will contact you to discuss replacing your vehicle. Depending on your contract, you may be able to extend your lease if desired.
All of our vehicle will be delivered to your home at the beginning of your agreement and collected at the end. The car is generally inspected and appraised a couple of days prior to the transport company collecting the vehicle. It is not possible to purchase your car at the end of the lease.


Can Kardi Leasing supply a lease vehicle under the Motability Scheme.

Unfortunately, Kardi Leasing does not participate in the Motability scheme as we are a broker, not a main dealer. If you are interested in the Motability scheme you can locate a participating dealer by clicking here