May 25, 2024

How to Get a Vehicle Loan?

In this article, we will answer the question of how to get a vehicle loan. But before that, let’s talk about what the vehicle loan used today is. A vehicle loan is a type of loan offered by banks to their customers or non-customers. Anyone who meets the conditions set by the banks can apply and get a vehicle loan. However, in addition to the rules determined by the banks, the rules determined by the Banking Regulation and Supervision Agency (BRSA) are also binding on the banks. It would be useful to talk about these rules before applying.

How to Get a Vehicle Loan?

There are some rules that should be followed by new or second-hand buyers who apply to banks. Among these, the most important limitation to be considered is the number of terms to be determined for the loan. According to the latest regulation made by the Banking Regulation and Supervision Agency, a maximum maturity of 48 months can be made. Another important condition is the ratio of the vehicle loan amount to be given to the value of the car to be purchased, 70% if the invoice amount of the car is up to 50,000 TL, 70% up to the amount of 50,000 TL if the invoice amount is 50,000 TL or more, and % for the amount above 50,000 TL. It is 50 percent. These rates include both new and used vehicles. Let’s continue to answer our question of how to get a vehicle loan.

If you are going to buy a second-hand car, it is essential that the car is at most 5 years old and the insurance value of the vehicle of this age is processed. Considering these conditions, you must apply with the documents required by the bank in order to obtain financing from a suitable bank. In addition to all these conditions, some campaigns and opportunities may be offered by different banks. For example, postponing the first payment of the loan for a few months is among these conveniences. With the answers we gave to the question of how to get a car loan, you can remove the question marks in your mind and start looking for a car immediately.

We recommend that you do not be deceived by all the information on the internet about how to get a vehicle loan. Some people try to defraud people by having them sign a promissory note just because we are giving vehicle loans. Don’t get scammed when getting a car loan.

You can keep your rights safe by using vehicle loans from official institutions and banks that you believe in brand value and trust. Banks do not make you sign a promissory note, do not send personnel to your home or workplace/office. Maybe they send private personnel to corporate companies, but not for vehicle loans. You should be careful about this.

Leave a Reply