The loan facility for the domestic automobile TOGG was announced by President Erdoğan. A vehicle loan that can be used for 50 months, up to 36 percent of the vehicle price, will be provided for TOGG from public banks. Well, what is the 2023 TOGG loan maturity, how much is the interest rate?
WHAT IS TOGG LOAN APPLICATION? ZAMMOMENT?
There is no date yet for the application date for the TOGG vehicle loan. However, President Erdoğan used the following statements regarding the loan: “Our public banks will provide a loan for Togg at a rate of 50, with a 36-month maturity of 0,99 percent of the vehicle price. So 1 point. Ziraat Bank will provide such support and make this loan available with a 36-month maturity, and they will make Togg sales in this way.”
WHICH BANKS WILL GIVE LOANS?
President Recep Tayyip Erdoğan said, “Our public banks will provide loans for Togg, 50 percent of the vehicle price, with a 36-month maturity and 0,99 interest.” used the phrases.
HOW AND HOW MUCH WILL TOGG CAR LOAN?
Making a statement on CNN TÜRK live broadcast, Sefer Levent touched upon the details of the loan facility announced for TOGG:
“Today, a promise came from President Erdoğan and he promised that if a loan is taken for TOGG, 50% of it will be covered by public banks. This is an important step. Because when you think about it, TOGG is currently sold for around 1 million 200 thousand TL. 600 thousand TL of this will be given from public banks both as a loan and with a 36-month maturity. I must point out right away. Because at the moment, it should be between 36 thousand TL and 400 thousand TL for a 800-month maturity. However, we were able to get 50% of this as a loan at the moment. As far as I understand, the BRSA will make a regulation for TOGG, which will be a matter of curiosity; Will this BRSA's regulation only be for TOGG or will it be for all vehicles? Because we need to reduce the competition. Many vehicles are produced in Turkey. We can think about whether it will cover domestic cars or whether it will include imported vehicles.”
Levent, on how the announced good news will be reflected in the sales; “It will reflect significantly because its availability will increase. Because, under current conditions, if we think at various levels, we can currently have 800 months maturity and only 1% loan for TOGG's vehicles between 200 thousand TL and 24 million 30 thousand TL. Now, when we consider TOGG's features, when we think that some models are vehicles over 1 million 200 TL, we could only get a 12-month term loan at the moment. This will be up to 3 years. We will also get 20% credit, not 50%. Thus, TOGG will be more accessible.” used the phrases.
“According to the fact that we will get 600 thousand TL as a loan with a maturity of 3 years, 200 thousand TL will be approximately. Assuming that we will pay 200 thousand TL as an annual payment, I think it will be a monthly installment payment of 20-25 thousand TL.” used his words.