Government’s decision to stop consumer loans behind the cars’ high prices

“Government’s decision to stop the consumer loans and changing the week end behind the raise in the prices of vehicles by more than 20% during two weeks”, largest car dealers in Algerian car markets say.

• Echorouk visits these markets to check on the cars prices following the government’s decision to stop the consumer banking loans and facilities.
• Algerian government’s recent decision caused a big change in the word of cars, as the decision to change the week end manipulated the time parameters of the cars market and the resolutions of the finance act doubled this summer, as well as changing the rules of prices, thus making many Algerians who dream of owning a car change their directions from the agencies which cell new cars to the market because bank loans and facilities were the only way for a simple Algerian to own a new car.
• Most of the markets in Algeria were associated with the names of days in which they opened their doors such as “the markets of Thursday or Friday”, so as many people could buy a car, however, the government’s decision to change the weekend in Algeria to Friday and Saturday instead of Thursday and Friday, raised many questions about the fate of these markets, which gained over more than a quarter of a century their names and fame.

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• The big change in the market of the used cars did not affect the timing, but it reached the prices and offers. “Oued Knis.com” is a market’s website that reveals the crazy rise of the cars prices following the decision to ban the consumer loans.
• The visitor to the Algerian cars markets can observe that cars of 2005 and 2008 invaded the market, as people who know the markets secrets on these indexes saying that the summer period is characterized by the arrival of immigrants from Europe, who bring their cars to sell them in Algeria.
• The Asian-made cars are experiencing unprecedented high prices, and all the cars presented in the agencies have high prices in the markets.