07.02.2025 13:00
The Central Bank's recent interest rate decision has also affected vehicle loans. Banks have consecutively updated their vehicle financing rates downward. This situation is seen as a significant opportunity for citizens considering taking out vehicle loans. Here are the latest figures in the market...
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With the Central Bank entering a process of interest rate cuts, there is also a decrease in vehicle financing rates. Interest rates, which have fallen to 3.49%, recently decreased to 3.15%. With this rate, the monthly installment for a 36-month vehicle loan of 400,000 TL has become approximately 21,500 TL.
DOES THE FALL IN INTEREST RATES AFFECT THE VEHICLE MARKET?
Although the Central Bank's interest rate reduction policy does not have a significant impact on the vehicle market, it is anticipated that both vehicle sales and related financing usage will increase during the summer months due to demand. Additionally, it is expected that this increase in demand could prompt banks to offer more attractive opportunities, while the gradual decrease in interest rates as summer approaches could increase the usage of vehicle financing, which is a hot topic in the sector.
WILL VEHICLE LOANS DECREASE?
Experts predict that it will take some time to return to vehicle financing rates of 1.50% in Turkey, where interest rates are currently high. Experts, who comment that vehicle financing will also decline with the decrease in policy interest rates as summer approaches, note that a more favorable environment for vehicle financing usage could be created.
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