A survey on the perceptions about consumer credits in Turkey

Abstract

This study basically deals with consumer credits as a consumer finance tool which has gained widespread use in recent years, in Turkey. One of the reasons behind this change is competition, which got tougher day by day, urging the banks to provide more and more diversified services rather than classical banking services. There have been many studies undertaken on consumer loans in Western countries where consumer credits, credit cards, mortgage loans and all other individual banking services have been used for many years. With a background of four years, consumer credits are not studied thoroughly in Turkey. This study covers some of the previous studies undertaken in other countries in reference to Turkey and is mainly concerned with the emergence and growth stages of consumer credits. This study also sheds light on the perceptions of the persons on consumer credits who are mostly salaried employees in Ankara. Data used to give insights about the perceptions on consumer credits is gathered from a questionnaire specifically designed for this study. The number of the respondents was 228, of whom 47 actually used consumer credits. It is quite obvious that consumer credits will be used more in the coming years with some financial and legislative changes in implementation.