National Bank of Kazakhstan Warns of Car Installment Purchase Risks

The National Bank of Kazakhstan has issued a warning to citizens regarding the potential risks of purchasing vehicles via installment plans.

According to the central bank, certain schemes leave legal ownership of the vehicle with the seller until the entire amount is settled. Under such terms, payments made by the buyer may be legally treated merely as rental payments.

Consequently, consumers risk losing both the invested funds and the vehicle without ever acquiring formal legal ownership of the car.