Second-hand car sales have stopped, notaries are empty.

The second-hand car market has come to a standstill. It has been reported that vehicle sales transactions at notaries have decreased by nearly 40% compared to the previous year.

In Istanbul, where there was a congestion at notaries last year, silence prevails these days. The decrease in real estate sales compared to the previous year is considered as the reason for the stagnation at notaries, as well as the recent decline in second-hand car sales. The low vehicle sales have also affected the notaries at Istanbul’s Istoç Auto Trade Center. It is learned that there has been a decrease of nearly 40% in the number of vehicle sales transactions compared to the previous year. While citizens who used to buy cars for investment purposes last year are not seen this year, the silence at notaries has attracted attention. The reduction of new car prices by car dealers through campaigns has also been a factor contributing to the decrease in second-hand car sales.

“Second-hand car sales have come to a standstill, hence notary transactions have halved”

Ahmet Turan, the Chief Clerk of the 24th Notary Public in Bakırköy, stating that there is a stagnation in the second-hand car market, said, “There is an average decrease of about 40% in second-hand car sales compared to last year. There are different reasons for this. Currently, as of July 7th, there are campaigns by dealers on new vehicles related to the ‘Safety Package’. Therefore, the public is inclined towards new cars. Consequently, this also negatively affects the second-hand car sales. This situation has adversely affected notary transactions. Last year, there were 400 daily car sales only in the auto dealers’ site where we are located. This number has now dropped to 150 this year. People no longer see cars as an investment tool. Currently, people are using their cash in interest. Therefore, car sales have decreased compared to the past. This also negatively affects notary transactions.”