Regulation Introduced for Vehicle Sales Involving Refurbished Mobile Phones

The Ministry of Trade has made a regulation regarding the number of installments applicable to the sale of refurbished mobile phones and vehicles. The "Regulation on Amendments to the Principles and Rules to be Applied in Retail Trade," prepared by the Ministry of Trade, has been published in the Official Gazette.

Accordingly, for mobile phone sales categorized as refurbished and conducted by renewal centers and authorized sellers, where the price exceeds 25,000 TL, or where the product is not categorized as refurbished but the price exceeds 20,000 TL, the installment period has been limited to 3 months.

The installment period for vehicle sales with a final invoice value of 400,000 TL or less will be limited to 48 months; for those with a final value exceeding 400,000 TL but not exceeding 800,000 TL, it will be 36 months; for those with a final value exceeding 800,000 TL but not exceeding 1,200,000 TL, it will be 24 months; and for those with a final value between 1,200,000 TL and 2,000,000 TL, it will be 12 months.

No installment arrangements will be allowed for vehicle sales with a final invoice value exceeding 2,000,000 TL.