Retail Banking

Vehicle Financing
Vehicle Financing
Vehicle Financing
Vehicle Financing

You have decided to purchase a new vehicle. You have done a thorough search and finally found the best choice for you and your family. But there is a small problem: Financing.

With Albaraka, your problems are over. We are here to help you purchase the car you have always wanted.

Vehicle Financing
Features
Necessary Documents
Vehicle Financing
Features
  • Customers who meet the necessary credit and income requirements can take advantage of vehicle financing from Albaraka.
  • When you buy a passenger car or commercial vehicle,  you have the option of repaying your vehicle finance loan in equal monthly installments (up to 36 months), as well as paying in a bi-monthly or quarterly basis. This way, you can choose the repayment plan that best suits you financially.
  • With new vehicles (“0” kilometers), financing is available for 80% of the key-ready invoice price, including (ÖTV) special consumption tax and (KDV) value added tax excluding other charges. The maximum term for Turkish Lira and foreign exchange loans is 36 months.
  • Financing is available between 40% and 70% of pro forma invoice price for second-hand cars depending on the make and model according to the insurance value.
  • For more information,  please call contact our 24-hour call center at 444 5 666. 
  • Albaraka can also assist you with insuring your new vehicle;  if you choose to use our services in obtaining insurance, we offer a 5% discount on vehicle loans in Turkish Lira or a 2% discount on Foreign Currency loans. 

 

 

Necessary Documents

Required Documents** for Individual Applications
 

  • Turkish Identification Card 
  • Residence Document 
  • Income Documents 
    • For salaried employees:  Most recent pay roll information on company letterhead with authorized signatures from your company or a signed and sealed company letter with authorized signatures. 
    • For the self-employed: A copy of your tax certificate, Trade Registry Gazette information, authorized signatures, financial statements and income tables for last three years approved by Tax Office or Certified Financial Consultant, current year balance sheet, and an activity certificate or registration certificate from the Chamber of Merchants and Craftsmen.  
  • Copies of deeds, rent contracts, and other property or income documents (if applicable)  
  • Notarized signature document 
  • Copy of deed for the real estate to be purchased. 
  • Pro forma invoice*
  • For the evaluation of financing applications, two persons must be willing to act as guarantors. The same documents should be prepared for your guarantors. Additional documents and information may be requested.  

 

Required Documents** for Corporate Applications

  • Identification Cards of Partners 
  • Notarized Signature Document
  • Trade Registry Gazette informaiton 
  • Chamber Registration Certificate 
  • Financial Statements and Income Tables (last three years)
  • Tax Certificates (last three years) 
  • Pro forma invoice*
  • For the evaluation of financing applications, two persons must be willing to act as guarantors. The same documents should be prepared for your guarantors. Additional documents and information may be requested.  

 

**Photocopies of all documents are required.

 * Pro forma invoice is a summary bill that is taken from a vendor as a proposal.