BDDK Credit Card Limit Cuts Threaten Turkey's Used Car Sales

Credit Card Limit Cuts Expected to Impact Türkiye’s Used Car Market

Istanbul

The Banking Regulation and Supervision Agency (BDDK) decision to gradually reduce credit card limits above 400,000 Turkish liras is expected to significantly affect Türkiye’s automotive market, particularly the used car segment.

According to industry experts, nearly 40 percent of second-hand vehicle sales in Türkiye are carried out using credit cards, making the new regulation a key factor that could reshape market dynamics.

Specialists note that credit cards have effectively become a primary payment tool for vehicle purchases. Lower limits may weaken demand and disrupt this financing channel, pushing buyers toward older and lower-priced vehicles.

Central Bank data shows that in January, card-based spending on vehicles — including rentals, sales, spare parts, and services — exceeded 100 billion liras for the first time. The new regulation targeting high-limit credit cards is therefore expected to alter the balance of the used car market.

“Approximately 40 percent of buyers either purchase vehicles directly with a credit card or complete part of the payment using their available card limits.”

Ali Karakaş, CEO of the used car platform Otomerkezi.net, emphasized consumers’ reliance on credit cards in vehicle transactions.

He added that many customers use credit cards to cover down payments or remaining balances, often restructuring payments into installments of up to 12 months.

“Credit cards have been attractive due to installment flexibility and favorable interest rates. If limits are reduced, this payment channel could effectively stall, increasing financing challenges across the automotive sector,” Karakaş noted.