Auto Loan

Enjoy your new car with Auto Loan!

  • Maturity Options up to 48 Months
  • Favourable Interest Rates
  • Quick Approval Process

What Is Auto Loan?

Alternatif Bank’s Auto Loan will knock you off your feet! To have the car of your dreams, all you need to do is take out an Auto Loan by visiting an Alternatif Bank Branch.

How To Apply For Auto Loan?

You can complete your Alternatif Bank Auto Loan application in 3 simple steps.

  • 1

    Apply for a loan.

  • 2

    Learn your credit decision.

  • 3

    Complete the lien procedures of the vehicle you wish to buy.

Auto Loan Features

Buying the car of your dreams is easy with Alternatif Bank Auto Loan!

Maturity

You can borrow your loan with term options starting from 3 months up to 48 months.

Collateral;
The vehicle to be financed with Auto Loan is taken as pledge and may not be sold until the debt is settled. Auto Loan is available for 5-year old and newer vehicles. No guarantor is required for Auto Loan. (As per credit assessment, Alternatif Bank reserves the right to request a guarantor or other types of security.)

Tax and Funds

15% RUSF and 5% BITT charges apply for vehicle purchases by natural persons.
Insurance

Loan Life Insurance, Comprehensive Insurance and Traffic Insurance are mandatory for loan coverage. Life Insurance may vary depending on age, gender and amount of loan, and Comprehensive Insurance and Traffic Insurance may vary depending on brand and year.


Currency;

The loan can be borrowed in Turkish Lira only.

Required Documentation

Below you may find the documents required for application:

Identity Card or TR Identity Card

Certificate of Residence or a bill registered in the name

Proforma Invoice for 0 km Cars

Income Certificate

Vehicle Title for Used Cars

Income Certificate


1. Payroll or income letter for salaried employees 

Current payroll, SSI service document or SSI registration number, employer registration number, net monthly pay and income letter including earnings attachment/deduction document and authorised signatory list.

2. For pensioners:

EPensioner ID Card or Monthly Pension Allowance Document/Pension Passbook

3. For self-employed:

The company’s current tax sheet and annual income tax return/current business account statement

4. For partnerships:

The company’s current tax sheet and annual corporate tax return

5. For rental income earners:

The title deed of rental property, rental contract or document of rental collection



Frequently Asked Questions About Auto Loan

Here you may find frequently asked questions about Auto Loan.

How can I apply for Auto Loan?

For your application, you can visit your nearest Alternatif Bank Branch with the necessary documents.

What are the documents required for Auto Loan?

Documents required for application include identity card or TR Identity Card, certificate of residence or a copy of a bill registered in your name and income certificate. In addition, a proforma invoice is required for 0 km vehicles, and vehicle title is required for used cars. Below you may find the documents which will be required depending on your income status:

1. Payroll or income letter for salaried employees

Current payroll, SSI service document or SSI registration number, employer registration number, net monthly pay and income letter including earnings attachment/deduction document and authorised signatory list.

2. For pensioners:

Pensioner ID Card or Monthly Pension Allowance Document/Pension Passbook

3. For sole proprietorships:

The company’s current tax sheet and annual income tax return/current business account statement özeti

4. For partnerships:

The company’s current tax sheet and annual corporate tax return

5. For rental income earners:

The title deed of rental property, rental contract or document of rental collection


Who can apply for Auto Loan?

All customers residing in Turkey over 18 years of age and with regular income are eligible to apply for an Auto Loan.

What is the maximum amount I can borrow with Auto Loan?

There is no maximum limit for our customers who wish to take out an Auto Loan. The price of the vehicle you wish to buy determines the amount of loan. You can take out 70% loan for up to TRY 120,000 of vehicle price, and 50% for the amount exceeding TRY 120,000.

What are the processing fees I need to pay during application?

You can review our Auto Loan processing fees in the table below.

ExpenditureMinimal AmountMinimum RateMaximum AmountMaximum RateExplanation
One-year automobile insurance

1000  TLBSMV is charged separately for the amount payable.
One-year insurance

250 TL
BSMV is charged separately for the amount payable.
Auto loan allocation fee



%0.5
Bsmv (banking and insurance transaction tax)


%5.0
Kkdf (resource utilization support fund)
%15

Is it mandatory to pledge the vehicle to be financed with Auto Loan?

The vehicle to be purchased must be pledged in all auto loans. When your loan debt is settled, the pledge on the vehicle will be released.

Other Loans

There is an Alternatif Bank loan for every need!

Consumer Loan

Do not put off your dreams, get a Consumer Loan from Alternatif Bank!

Mortgage

It is very easy to become a home-owner as if you are paying rent with Alternatif Bank Mortgage Loan!

Non Resident Mortgage

Becoming a homeowner in Turkey is very easy with Alternatif Bank!

Overdraft Account

With Overdraft Account, you can withdraw cash any time you want! Even when you are out of cash!

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