The Banking Regulation and Supervision Agency (BDDK) has made changes in the credits for electric vehicles. Accordingly, the term limit for vehicle loans with a final invoice value of less than 2.5 million lira has been set at 48 months.

For vehicle loans between 2 million lira and 5 million lira, the term limit is 36 months, while for loans between 5 million lira and 6.5 million lira, it is 24 months.

The term limit for loans ranging from 6.5 million lira to 7.5 million lira has been set at 12 months.

With the regulation, the ratios of credit amount to vehicle value have also been updated.

For vehicles with a final invoice value of 2.5 million lira and below, the credit amount cannot exceed 70% of the vehicle’s value.

Credits of 50% for the range of 2.5 million lira to 5 million lira, 30% for the range of 5 million lira to 6.5 million lira, and 20% for the range of 6.5 million lira to 7.5 million lira will be provided.

No loans will be granted for vehicles priced at 7.5 million lira and above.