Installment Sales and Promissory Note Payments Begin for Vehicle Sales!

As you may know, with a new regulation, the Ministry of Commerce has removed the installment limit for housing sales and introduced installment options of up to 60 months for vehicle sales. According to this new arrangement, while the installment limit is lifted for housing, vehicles priced at 120,000 TL or below can now be purchased with up to 60 monthly installments, vehicles priced between 120,000 and 300,000 TL with 48 months, vehicles priced between 300,000 and 750,000 TL with 36 months, and vehicles priced above 750,000 TL with 24 months of installments. This ease of purchasing vehicles through installments or promissory notes without an initial down payment aims to boost vehicle sales, which have almost come to a halt, and to revitalize the car buying and selling market. We know that passenger cars, especially for people living in big cities, have become essential in daily life, providing convenience in many areas from transportation to shopping. Therefore, it is possible to foresee that the car buying and selling market will become more active in the coming period with this update. This new regulation opens the door to buying a car through installments or promissory notes without needing a vehicle loan, offering significant payment ease for every user looking to buy a car.

In this process, those who prefer to make payments via promissory notes and checks through online systems will benefit from platforms like Semosis, a next-generation service focused on ensuring the continuity of commerce. These platforms will not only facilitate car sales but also provide buyers and sellers with ease in managing, paying, and tracking their debts and receivables on promissory notes and valuable documents across various sectors where deferred goods and services are sold.