Arrangement for Vehicle Loans to Come with Togg

The domestic electric car Togg, which is eagerly awaited by millions of citizens in Turkey, will come off the production line at the end of 2022. While a solution is expected to activate the automobile market due to the high interest rates on vehicle loans recently, it is stated that this step will be taken together with Togg. Mehmet Ali Akben, Chairman of the Banking Regulation and Supervision Agency, gave the good news about vehicle loans in the live broadcast he attended.

With the launch of the domestic car Togg at the end of 2022, it has been announced that credits will be adjusted to encourage the domestic car. The expected arrangement in the vehicle loan will be made thanks to Togg. In order to increase Togg’s sales, the BRSA will send instructions to all banks and the loan rates will be updated. In this context, Mehmet Ali Akben, Chairman of the Banking Regulation and Supervision Agency, made very important statements.

Credit Utilization Rates Will Be Updated

BRSA Chairman Mehmet Ali Akben said the following about the regulation to be made for vehicle loans: “There is also the amount with the number. There are slices of 120 thousand, 300 thousand, 750 thousand. By making an update on those slices, let’s say the first slice is 120 thousand. They can get 70 percent of 120 thousand loans. We will update them.” Akben stated that they will encourage the sales of domestic automobile Togg with the updates to be made in the vehicle loan.

With the introduction of the domestic automobile to the market at the end of 2022, the good news came that there would be an increase in automobile loans. He also signaled that special steps would be taken to encourage domestic automobiles. Stating that they want to activate the loan for the domestic car Togg, Akben said, “There are figures that we will update on the automobile side as well. There is an area there that we encourage. We want the credit side to be more effective on the domestic vehicles side, not on the imported vehicles side.” used the phrases.

Vehicle Loan Tranches Will Be Arranged

BRSA President Akben gave the details of the vehicle loan arrangement, which is expected to take shape after Togg’s sale: “We will make an update when our domestic car comes out. With the update, it will be a little more comfortable. Along with the number, there is also the quantity. There are slices of 120 thousand, 300 thousand, 750 thousand. By making an update on those slices, let’s say the first slice is 120 thousand. They can get 70 percent of 120 thousand loans. We will update them.”

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