Car owners in Turkey regret their purchase: Annual costs exceed 150,000 TL

In Turkey, owning a car has become an unsustainable financial burden, especially for the middle class. With rising fuel prices, insurance, maintenance costs, and the motor vehicle tax, the annual operating cost of a car has exceeded 150,000 Turkish Lira. These high costs have led many vehicle owners to turn to alternative transportation methods.

HOW MUCH IS THE ANNUAL VEHICLE COST?

The expenses faced by vehicle owners are listed item by item as follows:

Fuel: 42,000 TL – 65,000 TL

Traffic Insurance: 8,000 TL – 20,000 TL

Comprehensive Insurance (Kasko): 10,000 TL – 30,000 TL

Parking Expenses: 12,000 TL – 36,000 TL

Periodic Maintenance: 8,000 TL – 20,000 TL

MTV (Motor Vehicle Tax): 5,000 TL – 15,000 TL

Extra Expenses: Bridge/highway tolls, tire changes, traffic fines

All of these items combined lead to an average vehicle owner spending more than 150,000 Turkish Lira annually.

MIDDLE-INCOME CAR OWNERS ARE PUTTING THEIR VEHICLES UP FOR SALE

While costs may be manageable for citizens in the high-income bracket, the real struggle is being felt by the middle-income group. Especially in major cities, many families have started selling their second vehicles. Some families are even prepared to go without a car entirely. It is reported that there is a significant increase in the number of people selling their vehicles at dealerships due to rising costs.

CAR OWNERSHIP HAS BECOME A LUXURY

While car ownership has now become a luxury consumption item, transportation habits are also undergoing a radical change. As the concept of "use when needed" takes precedence over "ownership," citizens are turning to alternative transportation methods.

Many people, avoiding the exorbitant costs of a car, are turning to alternative means of transportation.

News Source: 12punto