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Leasing a car in Luxembourg before buying it
Are you thinking of buying a car? Don't rush and before buying, try leasing one. This option allows you to rent a car for longer periods of time and sometimes it can be even more interesting. Keep reading and we will tell you everything you need to know about it.
If you don't like the idea of paying a value close to the payments on a loan for several years and then having to return the car at the end of the contract, keep in mind that some leasing contracts allow you to purchase the car for an additional amount at the end of the contract.
What is car leasing in Luxembourg?
Car leasing in Luxembourg involves entering into a medium to long-term rental contract for a vehicle, often with the option to purchase the car at the end of the lease by paying the residual value. This type of contract allows drivers to enjoy a new car for an all-inclusive rental price, typically excluding insurance, at a cost generally lower than the depreciation of a car loan.
The process of leasing a car in Luxembourg typically follows these steps:
- Choosing the vehicle.
Select the car brand and details, including the model, engine type, options, color, and more.
- Evaluating offers.
Compare leasing deals from car manufacturers, specialized leasing companies, and online platforms that aggregate offers from different providers.
- Deciding the duration.
Lease contracts usually range from 2 to 4 years, but longer leases are also available.
- Checking the initial payment.
Some leases include an initial payment, which can be adjusted. Generally, a higher initial payment results in lower monthly payments.
- Estimating annual mileage/
Estimate the number of kilometers you plan to drive annually. Accurate estimation is crucial as extra kilometers often incur high costs. Contracts typically start from 10,000 km per year.
- Choosing the contract type.
Leasing with an Option to Purchase (LOA) and Long-Term Rental (LTR) are the two main types of leasing contracts. LOA allows you to buy the car at the end of the lease, while LTR does not.
- Reviewing contract details.
Carefully check all contract details, such as maintenance conditions, the possibility of extending the lease, and other terms.
- Signing the contract.
Once the contract is reviewed, sign it and make any required initial payment. Then, receive the vehicle, ensuring it is in optimal condition.
- Getting insurance.
You are free to choose your insurance provider, but the leasing company will typically require proof of comprehensive insurance (CASCO).
- Returning the vehicle at the end of the lease.
You must return the vehicle at the end of the contract.
While both car leasing and short-term car rentals allow you to drive a vehicle without owning it, there are several key differences.
Service | Car rent | Car leasing |
Contract duration | Days to weeks | Months to years (typically 2-4 years) |
Options at the end of the contract | Return of vehicle | Return, purchase of the vehicle, or renewal of the contract |
Monthly payments | Generally higher | Generally lower than a purchase loan |
Insurance and maintenance included | Included | Not included |
Penalties | Minor, generally related to damage or cleaning | Excessive mileage, excessive wear and tear, early termination. |
Pros and cons of car leasing
Car leasing offers several advantages and disadvantages that are important to consider before deciding if it's the right option for you.
Leasing is an interesting option, but it all depends on your preferences and needs, while for some it may be useful, for others with different needs it may be better to buy an auto outright. It is important to see how leasing fits your needs.
How much does it cost to lease a car in Luxembourg: average calculations
If you're considering auto leasing, one of the most important questions you're likely to ask yourself is: how much does it cost? The cost of leasing a vehicle can vary quite a bit, and it depends on several factors. Here are the most important ones.
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In order to give you an idea of how much it can cost, here are some examples. For ease of comparison, we have chosen offers with no special features and no down payment.
Vehicle | Leasing period (years) | Km included per year | Monthly Payment (euros) |
Peugeot 208 II | 2 | 10,000 | 279 |
Renault Clio 5 | 2 | 10,000 | 382 |
Volkswagen golf VIII | 4 | 10,000 | 428 |
Tesla Model 3 Propulsion | 5 | 10,000 | 579 |
Audi A4 Avant | 3 | 20,000 | 641 |
Lexus UX | 2 | 40,000 | 843 |
Top companies to lease a car in Luxembourg
As you probably don't even know where to start looking, we are going to introduce you to some of the main companies with which you can arrange car leasing in Luxembourg.
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To obtain information about a lasing it is necessary to contact them through their website or to contact one of their dealers.
Volkswagen Financial Services offers leasing contracts tailored for both individuals and businesses, featuring a wide selection of vehicles from the Volkswagen Group's portfolio of brands: Volkswagen, Audi, SEAT, CUPRA, ŠKODA, Porsche, Lamborghini, and Bentley.
To explore leasing options with Volkswagen Financial Services, you can initiate contact by submitting a request through an online form or directly contacting one of their authorized dealerships. Additionally, they provide a limited selection of models available for direct online reservation, though the current offering is modest, with only 2 models available at the time of writing this article.
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To give you an idea of the prices, below are the two models available for online reservation along with their base configuration prices:
Car model | Cost (euros) | Characteristics |
Škoda, Fabia Monte Carlo | 399 | 36 months, 10 000 km/an |
Škoda, Kamiq Monte | 536 | 36 months, 10 000 km/an |
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Their leasing options are limited, Foyer currently offers three models:
Car model | Cost (euros) | Down payment | Characteristics |
Mini COUNTRYMAN E Trim Essential | 319 | 3500 | 24 months, 10 000 km/an |
BMW iX1 Edrive20 | 269 | 5000 | 24 months, 10 000 km/an |
Polestar 2 Long Range Dual Motor | 240 | 4000 | 24 months, 10 000 km/an |
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Volkswagen Financial Services offers leasing contracts tailored for both individuals and businesses, featuring a wide selection of vehicles from the Volkswagen Group's portfolio of brands: Volkswagen, Audi, SEAT, CUPRA, ŠKODA, Porsche, Lamborghini, and Bentley.
In the vehicle leasing sector, BGL Luxembourg offers a Private Leasing option that allows access to new vehicles with flexible contracts. This service provides the opportunity to customize the vehicle according to your tastes and needs, with monthly payments covering vehicle use, maintenance and insurance.
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While some options are displayed on their website, configuring a lease to your specific preferences requires direct contact with BGL Luxembourg, either by phone or through the form on their website.
Below are some of the options currently showcased on their website:
Car model | Cost (euros) | Characteristics |
Mini Cooper E | 435 | 60 months, 10 000 km/an |
Volvo EX30 Core Single Engine | 485 | 60 months, 10 000 km/an |
Renault Scenic E-Tech Evolution 170ch comfort range | 495 | 60 months, 10 000 km/an |
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To find the closest office to you, visit spuerkeess.lu.
Among the wide range of services offered by Spuerkeess is vehicle leasing through its Lease Plus offer, provided in collaboration with Leasys Luxembourg. The Lease Plus program offers comprehensive coverage, including administrative management, all-inclusive insurance, summer and winter tires, regular maintenance checks, mechanical repairs, and 24/7 roadside assistance.
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Below are some of their current leasing offers, though you can customize your vehicle to your liking by contacting one of their agents:
Car model | Cost (euros) | Characteristics |
Hyundai Kona EV | 299 | 18 months, 15 000 km/an |
MINI Cooper Electric | 399 | 18 months, 22 500 km/an |
Citroën ë-C3 | 411 | 60 months, 10 000 km/an |
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To find the closest office to you, visit lalux.lu.
Volkswagen Financial Services offers leasing contracts tailored for both individuals and businesses, featuring a wide selection of vehicles from the Volkswagen Group's portfolio of brands: Volkswagen, Audi, SEAT, CUPRA, ŠKODA, Porsche, Lamborghini, and Bentley.
In the vehicle leasing sector, Lalux offers its innovative Time2Lease service, designed to provide a comprehensive and hassle-free mobility solution. A key component of this service is the easyPROTECT Auto insurance, which stands out for offering no-deductible solutions in case of an accident, reimbursement of the initial down payment in the event of a total loss, a replacement vehicle, and both national and international assistance.
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Lalux offers a variety of vehicles for leasing, although only five offers are displayed on their website. To explore more options, you would need to contact one of their sales agents. Below are the current offers available on their website:
Car model | Cost (euros) | Characteristics |
Cupra Leon 1.5 eTSI 110kW/150ps DSG7 | 529 | 48 months, 15 000 km/an |
CUPRA Leon 2.0 TDI 110kW/150ch DSG7 | 555 | 48 months, 15 000 km/an |
Cupra Leon Sportstourer 1.5 eTSI 110kW/150ps DSG7 | 559 | 48 months, 15 000 km/an |
Here we have covered some of the companies that offer leasing contracts, but these are not all of them, there are many more, other relevant companies include Arval Luxembourg, Leasys, Leasing Prive or Easy Lease, among others.
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Frequently Asked Questions (FAQ)
What are the main benefits of leasing a car instead of buying one?
What type of insurance is required for a leased car?
Are there any penalties for terminating a lease early?
Source: axa.lu, economie.gouv.fr, vivacar.fr, vwlfs.lu, foyer.lu, fr.wikipedia.org, bgl.lu, spuerkeess.lu, lb.wikipedia.org, lalux.lu
We took photos from these sources: VWLFS Luxembourg, Foyer, BGL Luxembourg, Superkeess, Lalux, Brock Wegner for Unsplash
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