A new regulation regarding installment limits for mobile phone purchases has come into effect. According to the regulation, which the Ministry of Trade has aligned with BRSA (BDDK) decisions, installments of up to 12 months will be available for new mobile phones priced at 40,000 TL and below.
For new mobile phones priced above 40,000 TL, the existing 3-month maturity limit will be maintained. Thus, the option for longer installments on new devices will only apply to models priced at 40,000 TL and below.
NO PRICE LIMIT ON REFURBISHED PHONES
One of the prominent aspects of the regulation concerns refurbished mobile phones. For the sale of mobile phones classified as refurbished products, 12-month installments can be made without applying any price limit. In this context, refurbished phones priced above 40,000 TL will also be able to benefit from the 12-month maturity option.
In the Ministry's statement, it was noted that installment periods for sales made via credit cards, shopping loans, and consumer financing are determined by the BRSA (BDDK), while the Ministry of Trade is authorized for installment sales outside these methods, such as sales with promissory notes.
With the regulation amendment, the Ministry has been granted the authority to determine installment periods and impose additional restrictions on installment sales of goods and services by retail businesses to consumers, excluding housing sales.
No changes were made to installment limits for product groups outside the scope of the regulation on mobile phones. Existing amount and maturity limits will continue to be applied to sales of electronic goods, tablet computers, televisions, household appliances, furniture, domestic tourism and travel expenses, vehicles, and jewelry.
The Ministry of Trade stated that if new decisions regarding installment sales are taken by the BRSA (BDDK), the necessary regulations will be implemented quickly.
News Source: 12punto
