The Banking Regulation and Supervision Agency (BDDK) made changes to electric vehicle purchase loans. Accordingly, the term limit for vehicle loans with a final invoice value below 2.5 million lira was set at 48 months.

For vehicle loans ranging from 2 million to less than 5 million lira, the term limit is 36 months, while for loans ranging from 5 million to less than 6.5 million lira, it is set at 24 months.

For loans from 6.5 million to 7.5 million lira, the limit is set at 12 months.

LOAN RATES WERE ALSO UPDATED

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

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

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

No loans will be granted for vehicles valued at 7.5 million lira and above.