The Regulation on the Principles and Rules to be Implementation in Retail Trade by the Ministry of Commerce in the Official Gazette No. 31425 dated March 16, 2021 has been amended in the regulation on sales of goods and services in installments and published. In the first paragraph of article 12 / B titled "Sales in installments for consumers by retail businesses" of the Regulation, it was determined that in the sales of goods and services in installments to be made with or without the issuance of valuable documents the installment period could not exceed twelve months, except for housing sales. With this regulation, the installment limit for housing sales was lifted by the Ministry of Commerce.
In the said change, the installment opportunity in vehicle sales was arranged as follows:
- Vehicles of 120 thousand liras and below will be paid for 60 months.
- Vehicles with a price between 120 and 300 thousand liras will be paid for 48 months
- Vehicles with a price between of 300 and 750 thousand lira will be paid for 36 months
- Vehicles of 120 thousand liras and above will be paid for 24 months.
These regulations will enter into force on March 16, 2021, the date of publication of the Regulation and it was announced that the execution will be made by the Ministry of Trade.
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