Korean Job Discussion Forums

[daz1979]

Approximately how much does it cost to run a car over here? I know it depends on size, but if you have a car over here could you please mention engine size and a rough cost per month or year.

Thanks.

[IamBabo]

Well, I have an Avante, which has a very small engine(1.5L). I average about 85,000 won to fill it! I fill up once every 10 days or so. It gets decent mileage, about 30MPG I'd say. As for insurance, not too sure. I have been driving for over 20 years, but they only recognize my Korean wife's driving experience, so it could be very pricey for you. We pay about 700,000 a year for that. Maybe someone else can add to that. If you can somehow get a car that uses the LPG, you could save a little more at the pump, I'm pretty sure they get better mileage.

Hope it helps...Good Luck..

[butlerian]

[kuno808]

does anyone know what it costs to ship a car from the US to korea? i was quoted $2000 but it did not include the taxes and fees on what South korea would charge me. tried looking for the fees on the web but couldn't find it.

[bassexpander]

There's some kind of 6 month tax that is supposed to show up in your mailbox. Problem is, I'm kind of worried because I haven't seen mine in a year, and I don't know who to ask about it. If you're late paying these things, they tend to nail you

[rjrs0510]

My insurance works out at about $100 a month, it takes $140 to fill up a 2ltr engine, but I dont drive so much and that can last me about 6 weeks^^ Taxes are a couple of hundred a year as well...however the freedom of a car is priceless^^ Dont listen to too many of the horror stories!!

[yeremy]

We have a 2008 SM5. It has 170 hp but I'd have to check the owners manual to be sure. The engine is about the same size as the Avante, I think.

I use only a little more than a tank a month. Gas is around 6 dollars a gallon here in Korea, but that's not the highest in the world. How much gas you would use, of course, depends on how much and far you drive as well as how you drive. The banshee's that are racing around on the highways don't worry about how much it costs to fill up at the pump. If you don't go racing around, you'll spread a tank of fuel longer and further. I also heard that the manual cars are 2-3% more efficient at transmitting the power, so a manual would get better gas mileage.

One way you can save a bit more at the pump is to find out which oil companies have a discount program. If you have a Hyundai 제로 팡팡 BC card from IBK (기업) bank, you can go to a Hyundai Oil/Gas Station on the 10th, 20th or the 30th and get 100 KRW per liter off as a discount.

I also saved a little on insurance here even though I did not have any Korean driving experience but 20 plus years in the US. I got a statement from my last insurance agent/provider in Washington State to prove that I had had insurance and that allowed me to qualify for lower insurance, but because we bought a brandnew car, we're paying a little over 1.1 mn KRW a year for full insurance.

I don't know exactly how much it costs to ship a car from the US to Korea, but your estimate sounds about right. A couple of years ago, some military friends shipped out of Korea and they told me that it roughly costs 3 to 4 thousand dollars, I think, to ship a car and to pay the import fees. If you have a SOFA visa, you could buy a car directly from another SOFA visa holder and buy pass the import taxes. You would also be able to get insurance on post, too.

Do you know how to get a Korean credit card? If you keep a bank balance in a Korean bank of over 1,000,000 won, you can apply to get a Korean credit card. I got mine four years ago and it's very helpful. The banks may be looking to widen their customer base, too, so I would apply if that very simple criteria applies to you. You do have to be a legal visa'd resident in Korea, too.

Korean credit cards also do not have a fixed payment schedule like in the US. If you buy something over 50,000 KRW, they'll ask you whether you want to pay it back within 3 or 6 or 9 months, perhaps even a year. If you don't stipulate how long you want of a payment period, you'll have to pay the entire balance when the next billing date is, like an AMEX card. Hope that helps.

[esetters21]

I have a Hyundai Tiburon (2.0 liter). I paid about 450,000w for insurance for the year (that is only for liability; full coverage would have been about 300,000 more). It costs around 110,000w to fill the tank. You do get charged a property tax every 6 months like Bass said. I think mine is around 125,000w. All said and done, I think having a car here is well worth it. The freedom and flexibility comes to mind. I don't drive everywhere, but it sure as hell makes things easier.

yeremy, what bank is your CC through?

Bassexpander, the tax comes from the tax office in your dong. You should look into that, because they can put a seize on your car if it is not paid.

[kuno808]

is there additional import tax when shipping a car from the US to korea?

[yeremy]

I got my first credit card through Nonghyup Bank 농협은행. I encourage everyone to go for a credit card. It may take some persistence, but it's a lot easier to get a credit card here than in the US. The more we (foreigners) meaningfully interact with Koreans, the more we can change the (negative) stereotypes that have become urban myths.

[dc'79]