UNION OF POWER IN INTEREST-FREE SYSTEM
Finansevim and Vakıfevim were bought by Serdar Kolo, who had a 50 percent share in both companies. Stating that the two companies will continue their way as Finansevim, Kolo said that they will increase the capital to 500 million TL.
The Chairman of the Board of Vakıfevim, Serdar Kolo said, “Participants bought nearly 40 thousand houses and cars in the last 1 year. We see that the decision is made by women in housing and by men in cars”.
The size of the sector in the interest-free housing and car acquisition system has reached 25 billion TL annually. While 2019 was one of the most productive years, the sector grew by 120 percent, especially due to high-interest rates. In 2020, 50 percent growth is expected. With the system, which employs 5 thousand people and reaches 700 branches, the participants bought nearly 40 thousand houses and cars in the last 1 year.
Preferences are made according to the budget
Serdar Kolo, Founding Partner and Chairman of the Board of Directors of Vakifevim, listed interesting statistics regarding the sector as follows: “According to BRSA data, the amount of non-performing loans reached 20 billion TL as of September 2019. In total, the rate of follow-up in credit cards and consumer loans was 3.64 percent. In the interest-free housing and car acquisition sector, the follow-up rate is much lower with 0.8 percent. Customers pay more regularly as both they enter payment discipline in the period before delivery and there is no interest burden. Since the amounts are determined first in this system, he/she does not turn to the amounts that exceed him/her and he/she makes his/her house choices according to his/her budget.''
Young people want cars
Noting that women have a say in purchasing housing in families, Kolo said, “Women direct family members to purchase housing. Men, on the other hand, are deciding about cars. Recently, especially young people between the ages of 19 and 23 are making heavy demands for cars.'' Kolo said that Vakifevim will help more than 10 thousand families realize their dream of housing and automobiles in 2020. Vakifevim, which will reach 41 branches in 2020, will reach a contract volume of 200 million TL.