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Car ownership costs?
« on: June 22, 2020, 09:14:48 am »
Hello Waygook drivers.

This is a pick your brains type, how much do you spend survey type affair, not a should I get a car? wow Korean drivers are awful one.

Basically I am currently doing my pros and cons list for Do I buy a motorcycle again or do I buy a car.  I've had bikes here in Korea and know the ins and outs of them, but have never owned a car.  Practicality is drawing me towards a car this time, aircon / rain protection / being able to drive on highways and transport stuff.  However, if the costs are considerable, I might be drawn back to the Bike and those horrible busses and taxi things.

So TLDR, what would you say your average running costs (excluding fuel) are per year?

I'm looking to get a 'light' car, morning/spark microwave on wheels type thing as I hear the tax is considerably lower and I'll mainly be doing city driving.  But if the tax is negligible might look at something with more poke.

So - What do you drive?
What do you pay in tax?
What do you pay in insurance?
How much do you pay for the year/bi yearly inspection? Do you often need to plug lots of money in repairs for this?
How much would you say (excluding fuel) your average yearly running costs are?


  • thunderlips
  • Hero of Waygookistan

    • 1913

    • June 07, 2012, 10:01:55 am
    • South Korea
Re: Car ownership costs?
« Reply #1 on: June 22, 2020, 09:19:49 am »
car- 2015 kia soul
taxes- 130k per year (I believe it is only once a year)
insurance- 400k
30-50 for the checks I think
average cost excluding gas about 150k per year, maintenance, insurance, taxes etc

Totally worth it, but yeah the driving here is absolutely shit!


  • pkjh
  • Hero of Waygookistan

    • 1827

    • May 02, 2012, 02:59:44 pm
Re: Car ownership costs?
« Reply #2 on: June 22, 2020, 09:31:16 am »
car: 2005 Sonata
taxes: 250,000-ish
insurance: 600,000-ish (most recent, but the first time like 5 years ago I paid like 1.3 million this is for full coverage)
mileage: 10,000 km/year
gas: 80,000 /month
maintenance: 50,000 won / 5000 km - I like taking it in for an oil change every 5000, my tire maintenance is done free at the place I got them.

Also, every year there always seems to me some random cost like replacing some timing belt, or getting new wheels, or replacing something somewhere that I don't know what it is, some other issue. Averages about 300,000 won a year.

As for actual driving, I don't find it so bad. The thing that annoys me are the length of the lights, and how the lanes between intersections don't exactly match up. Also, those big industrial trucks, and buses, that run reds and their only warning is a few honks.


  • LIC
  • Expert Waygook

    • 849

    • February 15, 2019, 04:39:00 pm
    • NE Hemisphere
Re: Car ownership costs?
« Reply #3 on: June 22, 2020, 09:45:15 am »
I had a 1995 Daewoo Romeo I bought in 2012 from the original owner, a Waygook who was leaving. It was a fantastic car and he'd taken excellent care of it with regular maintenance and fixing anything as soon as it needed fixing.

I bought it for 800,000 Won and had it 4 years. I'd say that with repairs and general running costs that car cost me about $100-$150 month. Well worth it because I lived very rural. It was a 1 hour highway trip to the nearest city to go to HomePlus or McDonald's!

Buy used, but know the car's history.


  • Lazio
  • Super Waygook

    • 352

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: Car ownership costs?
« Reply #4 on: June 22, 2020, 11:12:48 am »
Insurance can be a lot in the first year since you don't have a driving history in Korea. It would go down considerably from the second year (like half or so). Unless you have an accident which will result in a spike again. You can also get rid of a bunch of add-ons from the insurance to make it cheaper while still giving you the necessary protection.
The inspection depends on the engine size I believe. For our 2000cc car we pay roughly 50k every 2 years. Tax is 200 something for a year.
An oil change will be between 30 and 50k. If you go for a premium oil it can be double that easily. Especially if the car needs a lot of oil to boot. You can always buy whatever oil you want online, and take it to the repair shop. No one ever refused to use the oil I brought, including Kia auto Q and such. Same goes for tires. You can get them online for cheap and take them to a nearby tire shop to have them installed.
There is always something to fix, and these can be from regular wear. Some of these can be over 100k or more easily. A new battery, transmission oil, engine coolant, brakes, belts and a bunch of liquids, new tires.
Last time I took it for an oil change, the guy said at the next oil change the rear brakes should be replaced. He quoted 300k- ish. So for both the front and rear ones, it would be a nice chunk.  Next year most likely a transmission oil change will be due. That would be somewhere between a 100k and 200k depending on the car. After that, I will need either 2 or 4 new tires. 50-100k/tire including installing depending on the tire size. Could be more if you want high-end tires. Throw in a wheel alignment as well for an extra 30-40k. And there will be something else after that... Perhaps the front brakes. The more you drive, the more frequently you'll need to replace something.
And then there are the unexpected things that you don't know when and where will surface and how much it would cost to fix them. Luckily I haven't had much of these happening. You should calculate with 100k-200k for these unforeseen things /year and a similar amount for regular maintenance.
« Last Edit: June 22, 2020, 11:56:24 am by Lazio »


Re: Car ownership costs?
« Reply #5 on: June 22, 2020, 11:28:11 am »
-2016 Morning
-Tax paid last week 65,390 won for the year, done on giro.kr by credit card.
-Fully comp for the first time 950 000 won, did have 5.7 million for the value of my car on the insurance docs though, which if I were to sell it today, may only get 2 million tops.  If you've provable no-claims then it'll be much lower. 
-As it's fairly new, the official checks are only two years apart.  And even then it's 20 000 won or something cheap like that.  The Kia garage does the test preparation check for nothing.
Oil change and filter change twice a year maybe 50 000 won total for the year.  No other problems.  If the air filter smells a bit, which is does, they clean it for free. 

Three things to remember.

-Cheaper parking and highway cost.
-1 litre and below means you pay about 7000 won in transfer fees for the car.  Bigger engine cars, you can pay up to 2% of the price of the car for acquisition and transfer costs. 
-Also there is a fuel tax discount for small cars which can be about 200-250 won off per litre with certain credit card companies.

Translated...

Quote
The fuel tax refund system is not as widely known, and many people do not know that they are eligible even if they ride a light car. The fuel tax refund system was established in 2008 to reduce the burden of fuel costs. It is a system that refunds some of the tax on fuel for light vehicles under 1000cc. If you refuel with various car companies' light car love cards, you can get a fuel tax refund of 250 won per liter within the limit of 200,000 won each year. However, the total number of passenger cars and vans owned by the car owner or family in the resident registration card must be one, and both the disabled person and the national merit who are eligible for the oil subsidy must be satisfied.

https://hub.zum.com/daily/27670

Considering it is 40 000 won a month for me in petrol, that's be five months with the discount. 


Re: Car ownership costs?
« Reply #6 on: June 22, 2020, 12:05:45 pm »
Car: 2018 Hyundai Ioniq
Tax: We got our bill for about 150,000ish last week.
Insurance: Around 1.1 million for two people.
Inspection: Never had to do one since it's new.
Expenses: Not a lot of maintenance since it's still pretty new. Oil change every four months or so, and that's about it. We order our air filters and change them ourselves, so that's cheaper, too. New windshield wipers usually once a year. Ummm. Yeah, not much in terms of upkeep cost. Gas comes out to about 60,000 per month, or so. If it wasn't a hybrid, that'd be a lot higher.

Also, my partner handles most of the tax stuff, but I know that for any electric or hybrid vehicles, there are lots of government subsidies if you purchase a new one, and then also a lot of discounts on random stuff like parking, highway tolls, etc in some areas.


  • thunderlips
  • Hero of Waygookistan

    • 1913

    • June 07, 2012, 10:01:55 am
    • South Korea
Re: Car ownership costs?
« Reply #7 on: June 22, 2020, 12:08:10 pm »
Car: 2018 Hyundai Ioniq
Tax: We got our bill for about 150,000ish last week.
Insurance: Around 1.1 million for two people.
Inspection: Never had to do one since it's new.
Expenses: Not a lot of maintenance since it's still pretty new. Oil change every four months or so, and that's about it. We order our air filters and change them ourselves, so that's cheaper, too. New windshield wipers usually once a year. Ummm. Yeah, not much in terms of upkeep cost. Gas comes out to about 60,000 per month, or so. If it wasn't a hybrid, that'd be a lot higher.

Also, my partner handles most of the tax stuff, but I know that for any electric or hybrid vehicles, there are lots of government subsidies if you purchase a new one, and then also a lot of discounts on random stuff like parking, highway tolls, etc in some areas.

Can I get a link for the air filters?

Thanks!!


**Found them thanks for the idea! https://smartstore.naver.com/auto_plus/products/2886342639?NaPm=ct%3Dkbpzpcd4%7Cci%3D158b222efc1010c6927d3970a698b0a612ccc845%7Ctr%3Dslsl%7Csn%3D310661%7Chk%3D2bfc0ee54a9d5729408e7c0a2a6dfbca47db37da
« Last Edit: June 22, 2020, 12:24:42 pm by thunderlips »


Re: Car ownership costs?
« Reply #8 on: June 22, 2020, 12:25:59 pm »
Can I get a link for the air filters?

Thanks!!

Can I get a link for the air filters?

Thanks!!

http://itempage3.auction.co.kr/DetailView.aspx?itemno=B859368630

There are lots of other places you can shop. Gmarket, Coupang, Naver Shopping, etc. That's just an example.

If you want to find them yourself, just search your car model (기아 소울), and filter (필터). Enjoy!


  • thunderlips
  • Hero of Waygookistan

    • 1913

    • June 07, 2012, 10:01:55 am
    • South Korea
Re: Car ownership costs?
« Reply #9 on: June 22, 2020, 12:30:03 pm »
http://itempage3.auction.co.kr/DetailView.aspx?itemno=B859368630

There are lots of other places you can shop. Gmarket, Coupang, Naver Shopping, etc. That's just an example.

If you want to find them yourself, just search your car model (기아 소울), and filter (필터). Enjoy!

New life hack, the dealership charges like 40,000.


  • Lazio
  • Super Waygook

    • 352

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: Car ownership costs?
« Reply #10 on: June 22, 2020, 12:56:40 pm »
Literally every emart, homeplus and lottemart sells them too. Even Daiso.


  • thunderlips
  • Hero of Waygookistan

    • 1913

    • June 07, 2012, 10:01:55 am
    • South Korea
Re: Car ownership costs?
« Reply #11 on: June 22, 2020, 12:59:05 pm »
Literally every emart, homeplus and lottemart sells them too. Even Daiso.


Now you tell me.


  • hangook77
  • Hero of Waygookistan

    • 1714

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Car ownership costs?
« Reply #12 on: June 22, 2020, 01:24:07 pm »
Hello Waygook drivers.

This is a pick your brains type, how much do you spend survey type affair, not a should I get a car? wow Korean drivers are awful one.

Basically I am currently doing my pros and cons list for Do I buy a motorcycle again or do I buy a car.  I've had bikes here in Korea and know the ins and outs of them, but have never owned a car.  Practicality is drawing me towards a car this time, aircon / rain protection / being able to drive on highways and transport stuff.  However, if the costs are considerable, I might be drawn back to the Bike and those horrible busses and taxi things.

So TLDR, what would you say your average running costs (excluding fuel) are per year?

I'm looking to get a 'light' car, morning/spark microwave on wheels type thing as I hear the tax is considerably lower and I'll mainly be doing city driving.  But if the tax is negligible might look at something with more poke.

So - What do you drive?
What do you pay in tax?
What do you pay in insurance?
How much do you pay for the year/bi yearly inspection? Do you often need to plug lots of money in repairs for this?
How much would you say (excluding fuel) your average yearly running costs are?


Started off a million won insurance 10 years ago per year.  Got down quickly.  Good driving record no accidents.  I went down as low as 330,000 won a year but am now up to 450,000.  (Inflation in Korea has been a bitch.)    Depends on what kind of car and stability you are looking for as for price.  A really old junker or something half decent relatively new or newer (IE within 5 years and low kms).  What model or type of car do you want?   A junker can be had for a couple million won or so.  10 to 20 million won will get a really nice used car or should depending on what you are looking for.  An older car will probably require more mechanic work more periodically.  Prices have gone up a lot for many things in the last few years including mechanics and car parts. 

Save up 4 or 5 million won with a mind to buy a car pay first year insurance up front, and maybe have some left over for emergency car repairs.  (If you have a revolving credit card in Korea or from your home country, you can worry about these things less.


  • VanIslander
  • Moderator LVL 1

    • 1836

    • June 02, 2011, 10:12:19 am
    • Seogwipo, Jeju Island
    more
Re: Car ownership costs?
« Reply #13 on: June 22, 2020, 01:59:18 pm »
2006 Korando jeep.
Sticker price at used car dealer in Busan in January 2009: 7.7 mill, but paid just under 10 mill when all costs were paid (tax, insurance).

400,000 won yearly insurance,
About 100,000 a year for checkups,
About 50,000 a year for minor repairs (wiper, window motor, tail light).

Around town a full tank lasts two months.

Pay zero in parking. Refuse to. Living in a small city it's easy to find parking. Seoul is a nightmare for parking (have only driven there twice - prefer bus when visiting that city).

Love the ability to jump in and go anywhere on the peninsula by noon on a Saturday. A real sense of freedom.

I used to take the fast toll highways but these days i take my time and enjoy the sights of the secondary free highways and local roads. A smartphone makes finding one's way easier to and from everywhere.


  • gotngoidea
  • Veteran

    • 103

    • August 28, 2012, 09:15:55 am
    • South Korea
Re: Car ownership costs?
« Reply #14 on: June 22, 2020, 02:08:30 pm »
What do you drive? 2012 Chevrolet Spark (Van)
What do you pay in tax? W64,000 / year
What do you pay in insurance? w420,000 / year
How much do you pay for the year/bi yearly inspection? W17,000 / 2 years  Do you often need to plug lots of money in repairs for this?  Only repairs I've had done were for my brake pads and aircon gas (W170,000)
How much would you say (excluding fuel) your average yearly running costs are? New wipers/car wash/lights under W100,000


Re: Car ownership costs?
« Reply #15 on: June 22, 2020, 02:17:46 pm »
Thanks guys. Gives me a good idea, definitely seems the sensible thing to do is to get the small car with the low running costs.  Hopefully the previous motorcycle history gives some insurance discount.

Now to convince myself that I should do the sensible thing.


Re: Car ownership costs?
« Reply #16 on: June 22, 2020, 02:28:59 pm »
I usually buy air filters at Homeplus. There used to often be a deal of 2 for 13,500won. I change them every six months

I drive a 2016 Chevy Orlando (diesel)
Tax is every 6 months actually, not for the year - 207,000won (paid it last Friday)
Insurance for two drivers, Maximum coverage plus some roadside perks - 550,000 a year
Inspection is every two years - about 50,000won
                               side note about inspections. One big thing hat diesels get caught on is emissions. They test the air coming out of     the tailpipe. If you drive in town, that all builds up. It will cost millions to flush it, or, as recommended by a friend who is also a mechanic you can do as follows: Gun it. lol. Actually in park run it with the gas all the way down, after the car engine is heated of course. Basically you're trying to loosen and expel excess garbage. Most modern diesels have DPF filters, however they only kick in to burn off the excess soot (regenerate) if you drive at at least a constant 70kph for about 20 minutes. You can also do a forced regeneration. Anyway...

Oil/filter change - about 100,000won, Wipers are maybe 20,000. If you know how to change the lights yourself you can buy many for around 5,000. If not, it usually can cost anywhere from 10,000-20,000 at a shop. I will change my tires soon at about 100,000 each. Fuel, about 140,000ish a month. Tolls maybe 5,000 a month. The last two obviously will be wildly different for everyone. Can save money by using plain water for your windshield during the non-winter months. You can also make your own, but I just use water.
« Last Edit: June 22, 2020, 03:05:27 pm by lifeisgood6447 »


  • Lazio
  • Super Waygook

    • 352

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: Car ownership costs?
« Reply #17 on: June 22, 2020, 09:50:45 pm »
Tax is every 6 months actually, not for the year - 207,000won (paid it last Friday)

There is an option to pay it all at once for the whole year. That way it's slightly cheaper.


Re: Car ownership costs?
« Reply #18 on: June 23, 2020, 10:39:08 am »
There is an option to pay it all at once for the whole year. That way it's slightly cheaper.

Damn. Good to know, I'll check into it.


  • Lazio
  • Super Waygook

    • 352

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: Car ownership costs?
« Reply #19 on: June 23, 2020, 11:06:17 am »
Damn. Good to know, I'll check into it.

When the first tax bill comes in January or perhaps December?, you have the option to pay for an entire year at once, or divide it and pay half then and the other half in June. If you pay for the whole year, it's maybe 20 thousand or so cheaper. You are technically lending money that way to the authorities though.