BGL BNP Paribas is the first bank in Luxembourg to launch a long-term vehicle leasing solution. The new “Private Lease” solution is aimed at individuals living in the Grand Duchy[1] and was developed in close collaboration with Arval Luxembourg.

The Private Lease solution offers clients an alternative to buying a car outright, as well as the chance to drive a new vehicle of their choice without going over their budget or worrying about unexpected expenses. Financing, maintenance, tyre replacement, taxes, insurance and breakdown cover are all included in a fixed monthly lease payment. When the contract comes to an end, all the client has to do is return their car when they collect a new one. This all-inclusive package will be available from the start of the Autofestival in all BGL BNP Paribas branches.

To devise this solution, BGL BNP Paribas drew heavily on the experience and expertise of Arval Luxembourg, a partner of choice on the corporate vehicle leasing market. Arval Luxembourg is a member of the BNP Paribas Group and has had a presence in Luxembourg since 1997.

“This new product expands the range of services offered by Arval Luxembourg and responds to growing demand among retail clients to optimise their budget in line with the way they use their car. With Private Lease, individual clients can benefit from the advantages of operational leasing that have previously only been enjoyed by our professional clientele,” said Gerry Wagner, Managing Director of Arval Luxembourg.

“This joint project with Arval is the perfect example of the opportunities for innovation that arise within a large group, enabling us to offer our clients the very best in transport solutions. Private Lease, a solution that marries comfort, peace of mind and simplicity, complements the traditional financing solutions that we will obviously continue to offer our clients,” added Roby Thill, Head of Retail Banking at BGL BNP Paribas.