The long-awaited limit change update in the automobile industry in Turkey was finally announced as a result of negotiations with Finance Minister Nureddin Nebati. We conveyed the details of the vehicle loan limit update announced by the BRSA.
The long-awaited update in the automotive industry in Turkey is finally announced by the BRSA. Due to the extremely high automobile prices, support for vehicle loans was not sufficient. Recently, with the leading names of the automotive industry Minister of Finance Nabati sat at the table for this issue.
As a result of the meeting, the decision on the expected limit change update for vehicle loans was published. According to the newly published decision taken by the BRSA details of updates to vehicle loans. We shared it with you below.
Limit updates on vehicle loans are as follows:
- to 400.000 TL cars with a price tag 70% credit use and 48 months maturity,
- for 800.000 TL cars with a price tag 50% credit use and 36 months maturity,
- 1.2 Million TL In cars with a price tag of up to 30% credit use and 24 months maturity,
- 2 Million TL In cars with a price tag of up to 10% credit use and 12 months maturity support will be provided by the banks.
For example, these calculations 200 Thousand TL for a car worth 140 thousand TL vehicle loan You will be able to withdraw and reschedule up to 48 months. You will be able to take out 400,000 TL loan for a 800,000 TL car, 360,000 TL loan for a 1.2 million TL car and 200,000 TL for a 2 million TL car.
RELATED NEWS
Critical Statement from BRSA President on Automotive Loans: Regulation is Coming
With this regulation, the automobile industry, which has experienced a great decline in the last period, is expected to reactivate. However, considering the high vehicle prices, it is a matter of curiosity whether the regulation will have the expected effect. What do you think about the new auto loan regulation? Please do not forget to share your thoughts with us in the comments.