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Car Loan Calculator

Enter the car’s price, your down payment, the monthly rate and the term. The payment includes KKDF and BSMV, and the BDDK limits on loan-to-price and term for that price are checked.

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New car: the invoice price with taxes. Used car: its insurance (kasko) value.

What you pay yourself; the rest is the loan.

The monthly rate your bank quotes. Divide a yearly rate by 12.

 

 

Monthly payment19,226.62₺36 equal monthly payments
  • Loan amount350,000.00 ₺
  • Total interest263,198.72 ₺
  • KKDF (loan fund levy)39,479.81 ₺
  • BSMV (banking tax)39,479.81 ₺
  • Total repayment692,158.34 ₺
  • Loan-to-price46.67%
  • Effective annual cost65.3%

KKDF rate: GİB / Cumhurbaşkanı Kararı

BSMV rate: GİB / Cumhurbaşkanı Kararı

Car loan limits: BDDK

Payment schedule 36

How it is calculated

For car loans a BDDK decision caps the loan and the term by the car’s final invoice value: the higher the price, the lower the share that can be financed and the shorter the term, and above a set price no loan is allowed. For a used car the insurance (kasko) value counts. Electric cars made in Türkiye have higher thresholds.

FormulaKredi = Fiyat − Peşinat; Taksit = Kredi × r′ ÷ (1 − (1 + r′)^−n), r′ = r × (1 + KKDF + BSMV)r: monthly rate · n: term in months · a car loan is a consumer loan: KKDF 15%, BSMV 15%.
  1. Find the BDDK band the car’s price falls in: it sets the maximum loan-to-price and term.
  2. Divide the loan (price − down payment) by the price; it must not exceed the band’s limit.
  3. Raise the monthly rate by KKDF and BSMV and apply the equal-payment formula.

Example

For a ₺750,000 car with ₺400,000 down, a ₺350,000 loan (46.7%) at 3.29% a month over 36 months (KKDF and BSMV at 15% each) means a payment of ₺19,226.62. You repay ₺692,158.34 in total: ₺263,198.72 interest and ₺78,959.62 tax.

Frequently asked questions

How much can I borrow for a car at a given price?

Up to an invoice value of ₺400,000: 70% of the price over 48 months; up to ₺800,000: 50% over 36; up to ₺1,200,000: 30% over 24; up to ₺2,000,000: 20% over 12. No car loan is allowed above that.

Are the limits different for Turkish-made electric cars?

Yes. For fully electric cars made in Türkiye the first band reaches ₺2,500,000 and loans are allowed up to ₺7,500,000. Choose it under “Car”.

Are KKDF and BSMV charged on car loans?

Yes. A car loan is a consumer loan: KKDF 15% and BSMV 15% are added to the interest in each payment. Only home loans are exempt.

Which value counts for a used car?

Under the credit regulation the insurance (kasko) value of a used car counts; the loan-to-value is worked out on it even if the sale price is higher.

Source

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