In our article, we focus on the used car market, which is considered a new investment tool, we are interested in the fastest growing price models, the reason for price increases for zero vehicles and details of the newly announced car loan campaign.
People's unwillingness to use public transportation due to the virus, fluctuations in the dollar exchange rate have increased the prices of zero cars. The additional taxes paid for the zero vehicle caused the customer to turn to the second-hand car, and the accumulation here caused the second-hand auto prices to approach zero auto prices. The 2016 model Honda Civic 1.6 i-VTEC was the most increasingly used car model, while the 2015 model 1.5 TCDI Ford Focus followed. Then the 2015 model Daica Duster 1.5 DCI 4 * 4, BMW 520 d, and Hyundai 1.4 i20 followed.
Due to quarantine infected with the application process to fight in the world in Turkey also experienced a slowdown in the automotive market. The auto loan campaign announced by public banks in early June sparked the automotive market. The vehicle loan packages announced for the transition to the normalization process within the scope of coronavirus struggle and the revival of the economic life caused mobility in the used and zero automotive markets.
The three large public banks Ziraat, Vakıf, and Halkbank months after the foundation of 0,49-% and 0.69% interest rate car loan campaign announced that hundreds of thousands of people began to research tools. With the announcement of the campaign, the demand for second-hand vehicles also increased. Individual and corporate customers who will purchase zero km passenger or commercial vehicles, including motorcycles, from domestic contracted companies, were allowed to use vehicle loans at rates ranging from 0.49% to 0.69%, within the framework of agreements with companies. Applications can be made from Ziraat, Vakıf, and Halkbank branches.
Contracted automobile companies include Ford, Fiat, Hyundai, Honda, and Toyota in zero km passenger cars; zero km commercial vehicles were announced as Fiat, Ford, Otokar, Karsan, BMC, Isuzu, and Mercedes.
For certain brands and models to be purchased from contracted companies producing domestic cars, up to 120.000 TL with a rate of 0.49% for zero km vehicle and up to 60 months; A vehicle support loan of up to 150,000 TL can be used for second-hand vehicles up to the age of 7, with a 0.82% rate, 6-month grace and up to 60-month maturity option.
The biggest disadvantage experienced in the vehicle loan campaign initiated by three large public banks was the unpredictable price increases in second-hand vehicles with the support of the state. Officials say that in some cases, second-hand car prices have exceeded zero vehicle prices, as a result of the fact that zero vehicle dealers bought and sold second-hand vehicles and their websites are valued for second-hand vehicles. Also, with the participation of private banks in the campaign process, prices are expected to decrease in the used car market. Experts recommend buyers to do price research on the internet, but to buy cars by visiting auto markets and galleries, and also warn them not to give a deposit by looking at the vehicle photo.
During the quarantine process, automobile plants stopped production and demand for zero vehicles in the market with the vehicle loan campaigns. It is stated that as a result of the deterioration in the demand and demand balance, some dealers have bought new car models from dealers and installed license plates and sold them at very high prices in second hand zero status and customers should stay away from second hand zero vehicles.