Leasing vs buying a car: no more misconceptions! | Banque et Caisse d'Epargne de l'Etat, Luxembourg
23rd November 2018

Leasing vs buying a car: no more misconceptions!

“Who in their right mind would want to lease a car?”, “It’s more expensive than buying and you don’t even own the car”, “There are always hidden costs”, “It’s too good to be true”. It would seem that certain misconceptions die hard. Fortunately, we are here to put that right.

Misconception no. 1: “Who in their right mind would want to lease a car?”

When you sign up to a mobile phone contract with an operator, you generally obtain a better price and an all-inclusive package (internet, unlimited text messages and calls, etc.). The best part is that you only have to commit for a certain time and you can change your phone when the contract comes to an end.

Misconception no. 2: “It’s more expensive than buying and you don’t even own the car”

If you take out a loan to buy a car, you make monthly repayments to cover the purchase price and pay all the additional costs separately.

With Lease Plus the price is all-inclusive and final, and, depending on the model of car you choose, works out cheaper in the long run!

Below is a table comparing all the monthly payments for a Clio 4. This example is non binding.

Once you’re satisfied with your choice of car, you can start driving with complete peace of mind, regardless of whether you’ve rented or bought it. It is in situations such as breakdowns, road accidents, tyre changes and servicing where leasing makes a difference!

Loan or leasing? Make your choice!

For example, should you have an accident, all you have to do is report it via the LeasePlan app or by directly calling LeasePlan, and you will receive all necessary information on what to do next. Similarly, if you break down, the dedicated roadside assistance service takes care of the situation. If you break down abroad, you will be put up in a hotel for the night and given a courtesy car.

The Lease Plus all-inclusive service manages all situations and makes your life easier.

Misconception no. 3: “There are always hidden costs”

You have to pay for your petrol and parking fines. But hold on a minute... these aren’t hidden costs!

With Lease Plus, the amount of your monthly payments depends on the model of car, the number of kilometres you drive and the lease period that you choose when entering into the contract. The all-inclusive service is covered by the monthly payments. And that’s all there is to it!

Misconception no. 4: “It’s too good to be true”

Rest assured: everything we have said is true! Call in to the Spuerkeess branch of your choice and make the most of our special introductory offers.

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