Quick Finans has launched a new app, significantly changing opportunities for financing within the second-hand car sector. With this innovation, 6.5 million vehicles that were previously ineligible for credit due to the 15-year age limit are now included in the financial system. This marks a historic shift in the market and opens up new possibilities for many.
Through a groundbreaking financing model, Quick Finans is now offering loans for cars over 15 years old. By integrating a substantial market sector that was previously denied financing because of vehicle age, Quick Finans is advancing the second-hand car sector substantially.
Expanding Market Access
The second-hand car market is a dynamic entity, with a valuation of $130 billion. Nihat Karadağ, General Manager of Quick Finans, believes that the age limit of vehicles is a significant obstacle to securing financing. He stated, “The used car market is extensive and operates with a diverse range of stakeholders. Our innovative credit scheme will further invigorate this ecosystem and support its continuous development.”
A New Era with Comprehensive Insurance
This new model is synergized with Quick Sigorta’s affordable motor insurance solutions, enhancing product variety and financial accessibility. Highlighting the inclusivity this financial structure promotes, Karadağ emphasized the model’s alignment with national economic strategies focused on inclusive growth and financial access.
Loan Flexibility
Under the campaign “Loans for All Ages and All Vehicles,” prospective buyers of vehicles older than 15 years will have access to loans with repayment options extending up to 24 months. Recognizing the economic shift towards cost-effective mobility, especially in the aged section of the market, Karadağ noted the significance in reconciling a substantial fleet back into economic circulation.
Market Impact Beyond Sales
The initiative is expected not only to boost vehicle sales but also drive advancements in vehicle exchange systems and auction platforms. According to Karadağ, “This model will integrate a massive number of vehicles into the system, fostering market growth through safer and more effective trade methods.” He concluded, affirming the model’s role in encouraging the development of innovative business solutions throughout the automotive ecosystem.
