What is the Monthly Cost of the Cheapest New Car in Turkey?

    Buying cars, from adequate to neat in recent periods it got harder . Because the COVID-19 pandemic that broke out in 2019 disrupted supply …

    What is the Monthly Cost of the Cheapest New Car in Turkey?

    Buying cars, from adequate to neat in recent periods it got harder . Because the COVID-19 pandemic that broke out in 2019 disrupted supply chains, which led to problems in zero vehicle production. So much so that the pandemic, which started years ago and we have forgotten now, still affects the car branch today. Companies are producing cars as before, mostly due to the chip crisis. they can’t.

    Of course, the difficulty of reaching a brand new car, on the second hand market and led to unprecedented situations. In this context; When you enter and look at the classifieds sites, we see second-hand cars that are more valuable than new. These are not the only difficulties in buying natural cars. Losing Turkish Lira and rising a little more each month inflation data began to complicate the work of consumers. This being the case, the car is now on the shelf for many citizens. Well, if you’ve decided to buy a car after all, what would be the lowest monthly payment price you’ll make today?

    Let’s say you bought the cheapest brand new car in Turkey today. How much is your monthly expense?

    In this content, we will make an in-depth calculation with you. The cheapest car in Turkey We’ll see which one it is, then imagine we’re buying this car. Moreover, we will assume that we have been in this car for a year, and we will find the expenses one by one. At the end of all these accounts, buying a new car monthly cost we will take it out. Let’s see how many of us can get under this monthly cost.

    What payments do we make when we buy a brand new car and use it for a year?

    Before continuing our content; When buying a brand new car, we need to find out which items we pay for. Let’s take a quick look at those payments.

    • Cost of the vehicle
    • Registration procedures
    • Motor and compulsory traffic insurance
    • MTV
    • fuel cost
    • tire cost
    • maintenance cost

    Here are all these pens, new car buyer confronting a citizen. Let’s take a closer look at these items and of our costLet’s take a closer look at how much it will be.

    Cheapest car in Turkey: Hyundai i10

    The cheapest car being sold in Turkey, launched by Hyundai i10 . The i10, which appears as a small city car, can be purchased for 331,500 TL, including SCT and VAT. Let’s also say that this price is the beginning. 331,500 TL Discard the , and you will have a manual transmission vehicle with a small 1.0 liter engine. You will probably stay away from comfort, but your feet will be swept off the ground.

    According to the laws in Turkey, you cannot take out a loan when buying a brand new car!

    Banking Regulation and Supervision Agency ( BRSA ), made a regulation on vehicle loans on 21.02.2022. According to this regulation made in the Regulation on Banks’ Credit Processes*, the last invoice amount is maximum for cars with 400 thousand TL or less. 48 months maturity credit can be used. Moreover, you cannot use credit over the invoice amount. Again, according to the same regulation, you can use up to 70 percent credit for cars with the latest invoice price of 400 thousand TL or less. So to own a Hyundai i10 You must have 99.450 TL cash . You can use credit with the remaining part.

    Let’s say you find 99,450 TL. Let’s use credit for the rest…

    We have passed the second part of our 331,500 TL Hyundai i10 purchase adventure. Let’s say you found 99,450 TL in cash and for the remainder you will use credit . When we think that you are not a private customer of any bank or that you are not retired, you can also take out loans with the interest rates given to everyone in general. At this point, we checked the most well-known loan search sites in Turkey and found the most suitable loan for you, our readers. In the middle, we use a loan with a maturity of 48 months so that you do not have difficulty in paying. The loan price we will use is also 232,050 TL.

    The most suitable loan option: A loan of 232,050 TL from a state bank with an interest rate of 1.59 percent (if they give it). The monthly payment is 7.424 TL. The total money that will come out of your pocket is 357,574 TL.

    As soon as you take out the loan and pay the dealer, you cannot take the vehicle and leave.

    Wherever you go in the world, after paying for a car you can’t drive . Because the registration process for the car you buy must be done first. At this point, we talked to different dealers and got the following information:

    According to the information we have obtained, some dealers take into account their traffic registration processes including MTV, while others exclude MTV. Dealers involved in the process, including MTV, say that the registration process costs approximately 2,000 TL.

    In other words, your monthly registration and MTV costs will be around 166 TL.

    Let’s not forget the motor insurance and compulsory traffic insurance!

    Insurance is not an obligatory consumption under ordinary conditions. But when buying a brand new car if you use credit , the bank from which you get the loan will keep the insurance with 99 percent probability. That’s why we have to have a helmet. With this; compulsory traffic insurance, as can be understood from its personal name, compulsory . After paying these two items, we bought our car. ready to drivewe can say.

    The most affordable essential traffic insurance prices we could find are as follows:

    using a website Offered for Hyundai i10 We reviewed the compulsory traffic insurance and motor insurance offers. The best price we could get was 4.300 TL for compulsory traffic insurance and 6.644 TL for motor insurance.

    The most affordable essential insurance fees we could find are as follows:

    When we add these, we see that we have to pay 10,944 TL more for the Hyundai i10 we bought. The monthly cost of this will be 912 TL.

    Now we can drive. The first moment you get into the car, you will see that the fuel tank is empty!

    The moment you get a ton of work done and start your Hyundai i10, you’re in for a car. the saddest part you will encounter. The fuel gauge in your car will be on the floor and you will even see that the warning symbol illuminates that you need to refuel immediately. Naturally, enter the first gas station you find. you will fill the tank.

    All the calculations we have made so far have been based on monthly periods. We will do the same for the fuel cost. When we go to Hyundai’s website and look at the shared technical data** for the i10, we see that the fuel consumption of this car is on average per 100 kilometers. 5.7 liters we see that. One-to-one data again, in Hyundai i10 36 liter It shows that there is a warehouse. Let’s do a calculation based on this now.

    What is the monthly fuel cost of Hyundai i10 with 1.0 liter engine?

    The table above Turkish Statistical Institute You can see the Vehicle-Kilometer Statistics*** published by TURKSTAT for 2020. (Since the newest version of this research will be published in April 2023, we have to continue with the data of 2020.) When we look at these data; of a car a year He traveled 12,474 kilometers. we reach the conclusion. According to this;

    • With a tank of the Hyundai i10 you purchased, approximately 630 kilometers you make the way. (This kind of compared to the factory.)
    • for 12,474 kilometers throughout the year 20 timesYou need to fill the tank.
    • Liter of fuel on 06.10.2022 20.75 TL levels. If this price remains constant throughout the year; If you fill the 36-liter tank 20 times, you will buy 720 liters of fuel in total. The total cost of this 14,940 TLIt is possible.
    • When we reduce the annual fuel cost to the monthly period; You will have a fuel cost of 1.245 TL every month.

    Be you, have summer and winter tires!

    In the cars we buy from the dealer, we usually all season tire exists. According to the company’s statement, these tires offer optimum performance both in summer and winter. However, when we look at winter tires and all-season tires; In the middle of the structure of the tires we see that there is a difference as much as mountains. For this reason; If you live in a city where there is snow or icing in the winter, continue to use the all season tires provided by the dealer in the summer. However, for your safety, you can also use winter tires. don’t neglect . Let’s take a quick look at the Hyundai i10’s tire data and the cost of buying four winter tires.

    on Hyundai i10 175 65 R14-86T sized tires are used. In our internet searches for these tires, we see that winter tire prices start from 700 TL. So when we buy four tires 2,800 TLwe need to pay.

    Accordingly, the tire cost of a citizen who buys a Hyundai i10 is equivalent to 233 TL per month.

    Even if the debt of the car is over, the problem is not over: When the car is 1 year old, you have to go to the first service!

    We contacted Hyundai Turkey and tried to find out the maintenance costs for a brand new i10. According to the company’s statement, in order for a purchased i10 not to be out of warranty, either at 15,000 kilometers or on the first anniversary after the vehicle was delivered It needs to be put into service and a general inspection should be made. When we look at the periodic maintenance prices**** table on Hyundai’s website, we can see that the cost of the first maintenance for the i10 2,091 TLwe see that.

    Since this maintenance will be done in the first year of the vehicle, we add another 174 TL per month to our cost table.

    Let’s get to the sum of all this…

    Until this part of our content, we bought Hyundai i10, the cheapest car in Turkey, and we used it for a year. we dreamed . We wrote down all the expenses we will make in this process. Come, now these pens to the totallet’s take a look.

    We can tabulate the monthly cost of purchasing a Hyundai i10 in Turkey in the following form:

    Spending (Monthly) Price
    loan expense7,424 TL
    Registration fee166 TL
    Motor and compulsory traffic insurance912 TL
    fuel cost1,245 TL
    tire cost233 TL
    maintenance cost174 TL

    When we bring all these together, we see that when we buy the cheapest car in Turkey, we will pay 10,154 TL per month. This price is 1.85 times the base price of 5,500 TL…

    So, is your purchasing power enough to buy this car? Do not forget to share your ideas with us.

    • *: According to the regulation of the BRSA dated 21.02.2022 from hereyou can reach.
    • **: Official information about Hyundai i10 from hereyou can reach.
    • ***: According to TURKSTAT’s report dated April 26, 2022 from hereyou can reach.
    • ****: To Hyundai maintenance prices list from hereyou can reach.
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