21.12.2024 08:10
The change in the installment terms for mobile phone and second-hand vehicle sales has been published in the Official Gazette and has come into effect. For mobile phones that are classified as refurbished and priced over 25,000 TL, as well as for devices that do not fall into this category but are priced over 20,000 TL, the installment period has been limited to 3 months. According to the decision, installment payments will also not be allowed for vehicles priced over 2 million TL.
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According to the regulation change of the Ministry of Trade, which was published in the Official Gazette and came into effect, the installment periods for mobile phone and automobile sales have been redefined.
3-MONTH LIMIT ON MOBILE PHONES
For mobile phones that are classified as refurbished and have a price above 25,000 TL, and for devices that do not have this classification but are priced above 20,000 TL, the installment period is limited to 3 months.
NO INSTALLMENTS FOR VEHICLES OVER 2 MILLION TL
The installment period for vehicle sales varies according to the invoice value. For vehicles priced at 400,000 TL and below, the maximum installment period is 48 months; for vehicles priced between 400,000 TL and 800,000 TL, the maximum is 36 months; for vehicles priced between 800,000 TL and 1.2 million TL, the maximum is 24 months; and for vehicles priced between 1.2 million TL and 2 million TL, the maximum is 12 months. Vehicles priced over 2 million TL cannot be financed with installments.
Moreover, banks were already applying this rule as it is. The regulation came into effect as of today.
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