“I went to buy a Kia Morning and bought a Mercedes E-Class and a Porsche Cayenne”
This is impossible in the new car market. Available in the used car market. Used cars are more varied than new cars for the same budget.
Furthermore, unlike real estate, automobiles depreciate rapidly. The price of imported cars is much lower than the price of domestic cars.
Although it varies by car model, in general, the value of a domestic car is roughly halved after 5 years after release. Imported cars will be half price after 3~4 years of export.
He won Porsche, Benz, and BMW available for less than 10 million
If you look at the domestic cars that can be bought for less than 10 million won, light cars have been released for 1 to 3 years, small cars for 2 to 4 years, and medium cars and SUVs for 5 to 8 years.
The price of used cars has risen as shipments of new cars have increased due to the automotive semiconductor crisis, but with the exception of some popular models, domestic cars in good condition can be purchased for less than 10 million won.
Buying a used car also reduces transfer costs and taxes. This is because the tax base on which the tax is levied is reduced.
Even imported cars, which are criticized for mass producing ‘kapoors’ (people who live in poverty by buying expensive cars compared to their economic power), can be bought for less than 10 million won. Considering the purchase cost alone, there is no need for ‘ghosts’ (collecting souls).
On Encar.com, the largest used car trading platform in Korea, there were 4,602 imported cars under 10 million won as of 1 pm on the 3rd.
Volkswagen has the most with 848 units. BMW has 580 units, Audi 498 units, Benz 493 units, MINI 376 units, Volvo 137 units, Honda 128 units, Lexus 100 units, Toyota 36 units, etc. There are also two Porsches, an imported car that the Kapoors love.
Among them, 1624 units for diagnosis and responsibility for inspection by Encar experts, 124 units for Encar guarantees, and 156 units for compensation for futile actions.
‘Half the price of the morning’ Porsche Cayenne, model 2006 won 8 million
The Porsche Cayenne, which had to pay more than 130 million won to buy a new car, came out with a parallel imported 2006 model at 8 million won.
The officially imported 2004 Cayenne appeared on sale at 9.5 million won. It’s cheaper than a new car this morning (11.75 million won to 15.4 million).
The Mercedes-Benz E-Class (E300), priced at 77 million won or more, is also priced at 7.8 million won for the 2011 model and 9.3 million for the 2012 model.
The Mercedes-Benz S-Class (S500L), which costs more than 150 million won, came out for 7 million won. This means you can buy it for half the price of the morning premium spec.
1999 Mercedes-Benz SLK 230K, an open car that can be treated as a classic car, appeared at 5.59 million won and Benz SLK 200K won 200K at 6.99 million. A Mercedes-Benz SLK 200K 200K, which the seller claims is an accident-free vehicle, has won 12.9 million.
In the case of Volkswagen, Honda, and Toyota vehicles, which have been popular in the imported car market, models can be purchased within 10 years of release for less than 10 million won.
Volkswagen Tiguan 2.0 TDI 2014, which was popular as a popular imported SUV that can be bought at the price of a domestic car, has won 8.8 million, and Volkswagen Passat 2.0 TDI 2014 has won 6.5 million.
The 2015 Honda Accord, popular in the used car market for its excellent durability and good fuel efficiency, has won 9.7 million and the 2012 Toyota Camry Hybrid has won 9.8 million.
Buying it for cheap taste declines to be ‘credible’
There are many things to be aware of when buying an imported car under 10 million won. This is because ‘cheap cars for no reason’ do not exist in the used car market.
If you buy a used imported car, it is inevitable that you will be at a loss in case it breaks down or gets into an accident. This is because parts are hard to come by and there are not many professional mechanics who can repair the car.
Some imported car brands have cars repaired and inspected at official service centers, but the cost is higher than domestic cars. The cost of repairs can be higher than the purchase cost.
Some vicious used car and maintenance companies bring imported cars that are about to be scrapped, repair them in a credible way, and then put them on the used car market.
If you buy such a car, you may have to keep it in a car park for ‘admiration’ purposes.
In addition, used cars with mileage of more than 100,000 km are generally subject to repair. It is very likely that the time has come to exchange or replace essential parts for the operation of vehicles, such as oils (mission oil, brake fluid, power steering oil, etc.), timing belts, spark plugs, wires, coils, and batteries .
Imported cars are also expensive to repair. According to the Insurance Development Institute, the average repair cost of imported cars in 2019 was 2.82 million. It costs 2.5 times more than a domestic car (11.4 million won).
That is why experts do not recommend imported cars under 10 million won to ‘ordinary’ consumers.
We don’t know when, where, how and when failure will occur, and once it does break down, repair costs are high.
Check status by checking performance and car history
If you really want to ride an imported car at a cheaper price than Bore, you must look at the performance check record before buying.
There are many cases where the performance check record is formalized, so if possible, it is best to go and check the condition of the car with someone who knows the car well.
Another option is to use the safe used car buying companion service, where a maintenance specialist goes to check the condition of the used car.
You should also look at the car accident history (car history) provided by the Insurance Development Institute. Because you can find out the history of insurance accidents.
The vehicle model rating evaluation of the insurance development organization can indirectly determine how much maintenance will cost. The vehicle class is the basis for calculating car insurance premiums. In the event of an accident, it is graded according to how much the car is damaged and how much it will cost to repair, and is divided into grades 1 to 26.
The higher the score, the cheaper the premium, and the lower the premium, the higher the premium. This will give you an idea of how much your insurance will cost as well as how much your repairs will cost. Imported cars sold in Korea average grade 8.
Older cars may not qualify, but if the average rating of the same car model, similar car model, or brand in question is low, repair costs and insurance premiums are likely to be high. Vehicle rates can be found on the Insurance Development Institute website.
You should check with the import car manufacturer or the import car maintenance company to see if parts can be supplied or repaired, and if the repair cost is not expensive.
A recommendation of ‘popular imported cars’ with good durability
If a used car company with a consumer protection system buys a product that guarantees quality, it can also prevent fraud.
You should also consider the mileage for the age. An average of 15,000 to 20,000 km per year is taken as a guide. If a 10 year old used car has driven around 150,000 km, it can be said to have driven fairly well.
Even if the mileage is too short for her age, you should be suspicious. The odometer may have been tampered with.
Also, if it is parked unused for a long time or driven mainly for short distances, replacement of parts may not be done in time, which could lead to high repair costs.
Experts recommend Japanese cars with good durability among imported cars under 10 million won, and German cars with excellent access to maintenance and sales centers in Korea. It advises that a popular imported car with a smooth supply of parts and well-known maintenance methods.
An industry official said, “The price of a used car does not fall simply because it is old, but is set by considering the price of a new car, popularity, maintenance cost, and repair cost.”
In addition, “Imported cars can be bought from less than 10 million won without any problem, but it can be a bit kapoor because of maintenance and repair costs. “It is better,” he said.
[최기성 매경닷컴 기자]
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