Turkish banks decrease monthly interest rates on purchase of vehicles
Baku, Azerbaijan, Sept. 26
By Rufiz Hafizoglu - Trend:
Turkish banks Ziraat Bankasi, Halkbank and Vakifbank have decreased monthly interest rates on the purchase of vehicles in Turkey, Trend reports with reference to Turkish media.
These changes apply only to the acquisition of Fiat, Honda, Hyundai, Renault Mais, Ford, Isuzu, Karsan and Temsa vehicles manufactured in Turkey.
Cars with price of more than 50,100 liras will be provided on credit for a period of not more than 36 months, at a monthly interest rate of 0.49-0.69 percent, according to the report.
Cars, the price of which is 72,100 liras, will be provided on credit for a period of not more than 60 months, at a monthly interest rate of 0.49-0.69 percent.
The number of vehicles used in Turkey increased by 61.30 percent by the end of July 2019 (compared to the same month of 2018) and amounted to 23.086 million, according to the Turkish Statistical Institute (TUIK).
Cars had a share of 54.1 percent for the aforementioned period, followed by vans and trucks with a share of 16.4 percent, motorcycles (14.3 percent), tractors (8.2 percent), and other vehicles (7 percent).
It was also reported that 20 percent of the vehicles used belonged to the Renault brand, along with by Fiat (14.5 percent), Volkswagen (9.3 percent), Peugeot (5.6 percent), Honda (4.5 percent), and other car brands (46.4 percent).
Turkey is the sixth largest car manufacturer in Europe. The country is assembling cars of the Ford, FIAT, Renault, Toyota, Honda, Opel, Hyundai, Mercedes-Benz and MAN brands. In addition, the country produces buses of such local brands as BMC, Temsa and Otokar.
($1 = 5.6984TL on Sept. 26)
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