It will become easier to buy a car in installments

It will become easier to buy a car in installments

The auto sector of Turkey has happily welcomed the Ministry of Commerce's new move, which has promoted Tuesday's presidential decree.

The government bulletin Resmi Gazete was released on March 16 with a decree from the Cabinet of Ministers, signed by President Erdoğan, to increase the number of payments to 60 when buying a car in installments. According to this decree, it will be possible to pay by installments for an inexpensive car within 5 years, but wit the increase of the vehicle' cost  the number of payments will decrease:

  • 60 months - if a vehicle costs up to 120 thousand lira

  • 48 months - at a cost from 120 to 300 thousand liras

  • 36 months - at a cost from 300 to 750 thousand liras

  • 24 months - if the cost is over 750 thousand liras

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