Suze Orman Slams Car Leasing as 'Biggest Waste of Money,' Yet 20% of Americans Defy Advice

In a recent CNN interview that cut through typical financial platitudes, bestselling author and veteran money advisor Suze Orman delivered a characteristically uncompromising verdict on auto leasing: "It's the biggest waste of money out there." The statement, made directly to host Chris Wallace—who admitted to being a leaser himself—highlights a fundamental rift in American personal finance philosophy.

Orman's position rests on long-term equity building. "If you properly maintain a purchased vehicle, your lifetime cost is dramatically lower," she argued, emphasizing ownership as a path to partial asset recoupment. This clashes with the convenience-driven model embraced by approximately 20% of U.S. drivers, who, like Wallace, value predictable payments, newer models under warranty, and reduced maintenance hassles.

Industry analysts note the debate isn't as clear-cut as either side suggests. "Orman's generalization overlooks nuanced realities," says auto finance expert David Chen of the Center for Consumer Affairs. "For urban professionals facing high insurance costs, or businesses utilizing tax deductions, leasing can be a strategically sound choice. It's less about 'waste' and more about aligning financial tools with specific life circumstances."

The persistence of leasing—even amid rising interest rates—points to deeper behavioral economics at play. A 2023 TransUnion study revealed that for many households, the appeal of lower monthly payments and technology upgrades every few years outweighs abstract equity considerations. The comparison to housing rentals is instructive but imperfect: auto depreciation curves and rapid technological obsolescence in electric and connected vehicles add unique variables.

Reader Reactions:

"Finally someone says it! Leasing is just renting with fancy terms. Orman is 100% right—you're throwing money away for the illusion of 'new car smell.'"
— Michael Torres, small business owner (Austin, TX)

"This is elitist nonsense. Not everyone has $10k for a down payment or wants to repair a 10-year-old car. Orman lives in a different universe than gig workers and young families."
— Priya Johnson, rideshare driver (Chicago, IL)

"The math actually depends on manufacturer subsidies. Last year I leased an EV with $0 down and pay less than I would on a loan. Blanket statements help nobody."
— Robert Hayes, financial analyst (Denver, CO)

"She's missing the psychological factor. For some, the certainty of a fixed monthly expense with no surprise repair bills is worth every penny of 'wasted' money."
— Angela Wright, psychology professor (Portland, OR)

As automotive retail evolves with subscription models and flexible ownership plans, the binary buy-vs-lease framework may itself become outdated. What remains clear is that Orman's provocation succeeds in forcing consumers to scrutinize the long-term implications of what is often a reflexive, emotionally charged decision.