Buy a car on promissory note without a down payment — many finance companies offer support for buyers who prefer this option. These companies, which allow you to purchase a car with promissory notes without a guarantor or bank loan, each have different terms and requirements. In this article you will find detailed answers to questions like “How can I buy a car with a promissory note?” and “Where can I get an interest-free car with promissory notes?”
If you want a vehicle without a bank loan and interest, there are places that sell cars with promissory notes. You can own the make and model you want through long-established companies that sell vehicles in installments without a loan. Choose the company whose conditions suit your situation best.
WHERE CAN YOU BUY A CAR WITH A PROMISSORY NOTE AND NO DOWN PAYMENT?
Places that offer cars on promissory notes without a down payment or bank credit include:
- Otosor
- Sungurlu Otomotiv
- Eminoto
- Wowwo
- Otovadeli
- Birarabam
- Fuzuloto
- Katılımevim
- İktisatevim
HOW TO BUY A CAR WITH A PROMISSORY NOTE AND NO DOWN PAYMENT?
To buy a car with promissory notes and no down payment, you need to apply to organizations that run installment-based vehicle sales systems. These institutions sell vehicles with promissory notes without requiring bank loans, allowing you to acquire the car you want under their terms.
PLACES THAT SOLD CARS WITH PROMISSORY NOTES IN 2021
Here are some companies that have offered cars on promissory notes without using bank loans:
1. Otosor
Otosor provides promissory-note vehicle sales. Although many of their listings show a 30% down payment and up to 48-month installment plans, you can review available cars on their site and filter by your preferred options. Their fleet includes various segments:
- Sedan
- Hatchback
- SUV
- Station Wagon
- Coupe
- Van
- MPV
- Pick-Up
On the company site you can list vehicles by different filters:
- By down payment amount
- By installment amount
- By total price
- By model and series
Otosor offers a search tool to help you find the car that matches your budget and needs. The company does not require a guarantor for vehicle purchases made under contract and promissory notes.
2. Sungurlu Otomotiv
Sungurlu Otomotiv sells vehicles on promissory notes as a used car dealer. They typically request a 30% down payment for promissory-note purchases, though bank loan options are also available. With about 30 years in the industry, the firm carries many makes and models.
If you prefer not to use a bank loan, you can submit a “Promissory-Note Vehicle Pre-Application” through the company’s official site. Sungurlu Otomotiv also works with several finance partners, for customers who choose loan options:
- Koç Finans
- Türkiye Finans
- Aktif Bank
- Yapı Kredi
- Şekerbank
- TEB
- ALJ Finans
3. Eminoto
Eminoto also offers promissory-note vehicle sales. The company began with promissory-note home sales and later expanded to cars. They provide several financing options:
- Installment vehicle financing
- Used vehicle sales
- New (zero-km) vehicle financing
- Trade-in vehicle sales
Choose the sales model that fits your needs. For detailed information about promissory-note sales, visit Eminoto branches or contact their customer service.
4. Wowwo
Wowwo is another major company where you can buy cars with promissory notes. Known for one of the largest vehicle fleets in Turkey, Wowwo offers nearly every make and model.
Some of the brands sold by the company include:
- Alfa Romeo
- Audi
- BMW
- Bentley
- Cadillac
- Chevrolet
- Chrysler
- Citroën
- DFM
- DS Automobiles
- Dacia
- Daihatsu
- Dodge
- Ferrari
- Fiat
- Ford
- Geely
- Honda
- Hyundai
- Infiniti
- Isuzu
- Iveco
- Jaguar
- Jeep
- Kia
- Lada
- Land Rover
- Lincoln
- Maserati
- Mazda
- Mercedes-Benz
- Mini
- Mitsubishi
- Nissan
- Opel
- Peugeot
- Porsche
- Proton
- Renault
- Rover
- Seat
- Skoda
- Smart
- Ssangyong
- Subaru
- Suzuki
- Tata
- Tofaş
- Toyota
- Volkswagen
- Volvo
- Lamborghini
- Aston Martin
- Lexus
- Pontiac
- Hummer
- Rolls-Royce
- MAN
- Oldsmobile
- Cupra
Wowwo provides a one-year warranty on vehicles they sell. They commonly offer promissory-note purchases with a 30% down payment and the remainder payable over 24 months.
5. Otovadeli
Otovadeli lets customers buy cars without bank loans, typically with 30% down and the remainder spread over 36 months. Their inventory includes many brands and models across different categories.
The company sells vehicles in three main categories:
- Passenger cars
- Off-road, SUV, Pick-Up
- Commercial vehicles
6. Birarabam
Birarabam, the vehicle sales branch of Birevim, operates with small installments and long-term plans, serving primarily low- and middle-income buyers. You can purchase various makes and models through their flexible payment approach.
If you complete the contact form on their website, company representatives will reach out to you. You can also visit Birevim branches or contact them by phone for more details.
7. Fuzuloto
Fuzuloto, an arm of Fuzulevim, offers vehicles with promissory notes and without bank credit. The firm provides several acquisition models:
- Quota-based Early Delivery Model
- Draw-based Mid-Term Model
- Non-draw Model
You can contact Fuzulevim branches or reach their representatives by phone for specific plan details.
8. Katılımevim
Katılımevim originally focused on promissory-note home plans and expanded to interest-free, credit-free car plans. They offer tailored ways to help members acquire vehicles.
The company offers two main vehicle acquisition plans:
- Draw-based Plan
- Personalized Plan
For detailed payment plans, fill out the form on the company’s official site or contact their representatives by phone or at a local branch.
9. İktisatevim
İktisatevim also sells cars using the same non-credit, installment or draw-based methods used for home plans. The company was established to help people acquire homes through pooled contributions and applies similar systems to vehicles.
The firm offers two main systems:
- Queue Determination System
- Individual Savings (Bireysel İktisat)
Through İktisatevim you can acquire vehicles of various makes and models according to your budget. Some payment plans are even designed to allow purchase without any upfront down payment.
HOW CAN I BUY A CAR WITHOUT A GUARANTOR OR LOAN?
To buy a car without a guarantor or bank loan, apply to one of the companies listed above whose terms match your situation. These firms have helped thousands of people obtain vehicles without bank credit. Down payment requirements, term options and payment schedules vary by company, so compare offers and choose the plan that best fits your budget and needs.