BRSA relaxed vehicle loans. With the decision, both maturity periods and loan amounts that can be used were increased. So, what are the current conditions for vehicle loans?
Banking Regulation and Supervision Agency (BDDK) announced that it has taken a new step regarding vehicle loans. In the announcement made on the official website of the institution, it was stated that the credit limits rearranged specified. The regulation seems to make it easier for citizens to own a car.
However, today’s decision does not apply to all cars. The government’s new conditions Valid only for those considering purchasing a domestically produced electric car made… Yes, for now, the only brand that falls into this category is Togg. New terms if you plan to purchase a Togg T10X it may be useful to you.
Loan amounts that can be used according to BRSA’s new regulation:
- For vehicles with a final invoice value of 1,600,000 TL and below seventy percent,
- For vehicles with a final invoice value of 1,600,000 TL – 3,000,000 TL fifty percent,
- For vehicles with a final invoice value of 3,000,000 TL – 4,000,000 TL thirty percent,
- For vehicles with a final invoice value of 4,000,000 TL – 5,000,000 TL twenty percent,
- For vehicles with a final invoice value over 5,000,000 TL zero percent.
Loan maturities that can be used according to BRSA’s new regulation:
- For vehicles with a final invoice value of 1,600,000 TL and below 48 months,
- For vehicles with a final invoice value of 1,600,000 TL – 3,000,000 TL 36 months,
- For vehicles with a final invoice value of 3,000,000 TL – 4,000,000 TL 24 months,
- For vehicles with a final invoice value of 4,000,000 TL – 5,000,000 TL 12 months.
The decision on the BRSA’s official website from here accessible.