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Louise is 19 years old and lives in Luxembourg with her mother and brother. She has just finished the last oral sessions on her final exams, and is waiting…
What about surprising your teen by buying him 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 or her first car or getting him or her to contribute to financing it? Then you are n the right place - read on for some helpful advice!
Where should you start when buying a first 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.
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.
What are the options?
It is always useful to have savings in case of an emergency. And it makes sense to think that if you have the money available, it’s best to pay for the car in a lump sum. But when buying a car, it’s important to consider the financing options available.
A brand new car with the latest technology and all administrative aspects taken care of - a stress-free solution!
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 ACL breakdown assistance. If you take out a personal loan, you choose your insurer, the level of cover and whether to take out ACL breakdown assistance.
With the Axxess card, your child can enjoy benefits for young drivers up to age 30, so he can have peace of mind when driving: