The main things we remember about the housing sector over the past 12 months are the rise in interest rates and the fall in property prices. However, following their fall in 2024, property prices in Luxembourg have now stabilised, and the many measures designed to boost the sector have finally been extended until 1 July 2025. This is good news if you are planning to buy in the near future, as the first half of 2025 is the ideal time to get your property plans back on track.
Looking for his very first car!
Your child is about to turn 18 - it’s hard to believe he is an adult now! It seems like just yesterday that you held him in your arms for the first time. That was, however, already 18 years ago. Time really does fly! The only thing that matters for him right now is to pass his driving licence and buy his first car.
Buying, renting... where to start?
Do you want to mark the occasion of your teenager's turning 18 and surprise him with his first car? “When you love, you don't count the cost" so the saying goes. That may be true in theory, but in practice things are a bit more complicated.
Are you hesitating between simply buying your teenager his first car or getting him to contribute to financing it? Are you hesitating between buying and leasing? Then you are in the right place! By following these few steps, you should be able to make the decision that's right for you.
1. Choose the car
The best way to find out about the makes and models of cars is to visit garages, dealers and manufacturers. This will give you an idea of market prices and provide a direct contact when the time comes to make the purchase. Are you looking for a new or used car? Do you want a basic car or one with a bigger engine? Do you want a small city car or a larger model equipped with parking sensors to make parking easier? You need to consider all these aspects, and it’s best to get advice from experts.
Once you have chosen the car, it’s time to think about how to pay for it.
2. Set your budget
Whether you're a student, a young worker, a mum or a dad, it's important to decide how much you're prepared to spend each month on buying or leasing a car. Of course, your budget must take into account your income or available savings.
Do you want to dip into your savings or borrow the money from a bank? In both cases, do your sums first to ensure you find the best solution.
Speaking of which- what are the options?
4. Drive with full peace of mind
Whether your first car is new or used, it is always better to be well insured. A scrape when parking or a collision while distracted don’t always happen to others. It’s important to have good insurance cover and breakdown assistance you can rely on if you need it.
The Lease Plus offer includes insurance and 24/7 breakdown assistance.
If you take out a Personal loan, you choose your insurer, the level of cover and whether to take out breakdown assistance.