The Banking Regulation and Supervision Agency (BDDK) has made changes to electric vehicle loan amounts. According to the decision, the term limit for vehicle loans with a final invoice value below 2.5 million lira has been set at 48 months.

For vehicle loans between 2 million lira and below 5 million lira, the term limit is 36 months, while for loans between 5 million lira and below 6.5 million lira, it is set at 24 months.

The term limit for loans between 6.5 million lira and 7.5 million lira is set at 12 months.

VEHICLE LOAN RATES

Along with the regulation, the ratios of loan amounts to vehicle values have been updated.

The loan amount ratio to the vehicle’s value cannot exceed 70% for vehicles with a final invoice value below 2.5 million lira.

For vehicles in the range of 2.5 million lira to 5 million lira, a loan will be granted at a rate of 50%, while for vehicles in the range of 5 million lira to 6.5 million lira, it will be at a rate of 30%, and for vehicles in the range of 6.5 million lira to 7.5 million lira, it will be at a rate of 20%.

For vehicles priced at 7.5 million lira and above, no loan will be granted.