With the Regulation on Principles and Rules to be Applied in Retail Trade, adopted in 2016, the law, which sets general restrictions on sales in installments, excluded housing sales, while the installment limit was imposed on cars according to the cost.
In the Regulation on Principles and Rules to be Applied in Retail Trade published in the Official Gazette dated 6/8/2016 and numbered 29793, housing sales are excluded from the scope of the article 12 / B, which brings a general restriction to sales in installments, while the installment limit according to the cost of cars with a clause added to the article was brought.
House sales were excluded from the scope of the installment limitation imposed by the regulation on the principles and rules to be applied in retail trade, and vehicle sales were included in the scope of the regulation.
According to the Ministry of Commerce regulation, published in the current issue of the Official Gazette and amending the said regulation, the limitation of installments in vehicle sales has also been revised.
Accordingly, the installment periods; 60 months for vehicle sales with a final invoice value of 120,000 TL and less, 48 months for vehicle sales between 120,000 – 300,000 TL, 36 months for vehicle sales between 300,000 TL – 750,000 TL and 24 months for vehicle sales over 750,000 TL.
Source: News Global
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