Recent Development

The Banking Regulation and Supervision Agency ("BRSA") amended two regulations regarding the calculation of loan limits for consumer car loans, vehicle-secured consumer loans and the financial leasing of vehicles. The amendments were published in the Official Gazette No. 30268 dated December 12, 2017 and entered into force.

What's new?

Prior to the amendment, the maximum loan to value ratio ("LTV") was 70% for vehicles worth equal to or less than TRY 50,000, whereas the maximum LTV was 50% for vehicles worth over TRY 50,000. The amendment changes the new threshold to TRY 100,000. For vehicles worth TRY 100,000 or less, the LTV cannot exceed 70% of the vehicle’s value. For vehicles worth over TRY 100,000, the LTV cannot exceed the sum of 70% of TRY 100,000 plus 50% of the exceeding vehicle amount.


With steadily increasing vehicle prices, the BRSA's amendments allow consumers to utilize apply for higher amounts of loans for their vehicle purchases.