| View previous topic :: View next topic |
| Author |
Message |
billyjudd
Joined: 13 Dec 2010
|
 Posted: Tue Dec 14, 2010 8:47 pm Post subject: Looking to buy a cheap car in Korea |
 |
|
What type of bag of bolts can I get for 6 million?
Anybody? |
|
| Back to top |
|
 |
Scamps
Joined: 01 Feb 2008
|
| Posted: Tue Dec 14, 2010 8:52 pm Post subject: |
|
|
| Have you visited the site SK Encar? You can get a lot! What kind of car are you looking for? Model, year, manual, automatic, size, etc? |
|
| Back to top |
|
|
billyjudd
Joined: 13 Dec 2010
|
| Posted: Tue Dec 14, 2010 8:55 pm Post subject: |
|
|
| Scamps wrote: |
| Have you visited the site SK Encar? You can get a lot! What kind of car are you looking for? Model, year, manual, automatic, size, etc? |
Something that runs and is reliable.
SK Encar? Is that a website? |
|
| Back to top |
|
|
eamo
Joined: 08 Mar 2003
Location: Shepherd's Bush, 1964.
|
| Posted: Tue Dec 14, 2010 9:05 pm Post subject: Re: Looking to buy a cheap car in Korea |
|
|
| billyjudd wrote: |
What type of bag of bolts can I get for 6 million?
Anybody? |
Find about another 2 million and you could get a brand new base model Kia Morning or Daewoo Matiz.
The used car market sucks in Korea because they need people to buy new cars to keep Hyundai/Kia and Daewoo happy. It's all set up for new cars.
Used car prices are pretty high and the cars themselves are often dangerous chopped crashed cars. Koreans usually just buy a new car after they crash, so loads of used cars have been crashed and fixed up.
If you plan on staying a couple of years, and have the cash, then a new car makes more sense. It's amazing how much of the new price you can get back when you sell on a 2-5 year old car in Korea. There's much slower depreciation here than in the west.
My 1 year old Kia Morning which I paid 10 mill for new (very high spec model) is still worth almost 9 mill. |
|
| Back to top |
|
|
UknowsI
Joined: 16 Apr 2009
|
| Posted: Tue Dec 14, 2010 9:11 pm Post subject: Re: Looking to buy a cheap car in Korea |
|
|
| eamo wrote: |
| billyjudd wrote: |
What type of bag of bolts can I get for 6 million?
Anybody? |
Find about another 2 million and you could get a brand new base model Kia Morning or Daewoo Matiz.
The used car market sucks in Korea because they need people to buy new cars to keep Hyundai/Kia and Daewoo happy. It's all set up for new cars.
Used car prices are pretty high and the cars themselves are often dangerous chopped crashed cars. Koreans usually just buy a new car after they crash, so loads of used cars have been crashed and fixed up.
If you plan on staying a couple of years, and have the cash, then a new car makes more sense. It's amazing how much of the new price you can get back when you sell on a 2-5 year old car in Korea. There's much slower depreciation here than in the west.
My 1 year old Kia Morning which I paid 10 mill for new (very high spec model) is still worth almost 9 mill. |
While what you say is true from my experience too, I just can't understand how it's logically possible. If everybody wants to buy new cars, shouldn't second hand cars be cheaper than in the west? Can somebody explain why second hand cars are so expensive? What happens to old cars, are they sent abroad?
I can find two possible reasons myself: cars are crashed much more than in the west and therefore there are less decent second hand cars to sell, or they have very high tax on re-registering the second hand cars. |
|
| Back to top |
|
|
eamo
Joined: 08 Mar 2003
Location: Shepherd's Bush, 1964.
|
| Posted: Tue Dec 14, 2010 9:22 pm Post subject: |
|
|
It definitely is a mystery where all the used cars go......there must tens of thousands of cars hitting the used sector every year but where are they? I see used car lots here and there....but not that many.
Maybe the internet means that most of them are sold privately.
A New Zealand friend told me they ship thousands of used Korean cars to NZ every year.......don't know if that's true or commonly done. |
|
| Back to top |
|
|
lowpo
Joined: 01 Mar 2007
|
|
| Back to top |
|
|
billyjudd
Joined: 13 Dec 2010
|
| Posted: Tue Dec 14, 2010 9:50 pm Post subject: |
|
|
Thanks for all the timely responses.
 |
|
| Back to top |
|
|
Ruthdes
Joined: 16 Oct 2008
Location: Seoul
|
| Posted: Wed Dec 15, 2010 2:17 am Post subject: |
|
|
| eamo wrote: |
| A New Zealand friend told me they ship thousands of used Korean cars to NZ every year.......don't know if that's true or commonly done. |
I'm calling bs on your friend on that one. NZ uses right hand drive cars. It can't possibly be economical to convert a 2nd hand Korean car for the NZ market. |
|
| Back to top |
|
|
sheriffadam
Joined: 10 May 2010
Location: Busan
|
| Posted: Wed Dec 15, 2010 3:12 am Post subject: |
|
|
| eamo wrote: |
A New Zealand friend told me they ship thousands of used Korean cars to NZ every year.......don't know if that's true or commonly done. |
Japanese cars go to NZ/OZ
I think Korean cars go to China/India/Pakistan
http://www.youtube.com/watch?v=ztcxbKcejWQ |
|
| Back to top |
|
|
eamo
Joined: 08 Mar 2003
Location: Shepherd's Bush, 1964.
|
| Posted: Wed Dec 15, 2010 3:41 am Post subject: |
|
|
| sheriffadam wrote: |
| eamo wrote: |
A New Zealand friend told me they ship thousands of used Korean cars to NZ every year.......don't know if that's true or commonly done. |
Japanese cars go to NZ/OZ
I think Korean cars go to China/India/Pakistan
http://www.youtube.com/watch?v=ztcxbKcejWQ |
Makes sense. |
|
| Back to top |
|
|
sheriffadam
Joined: 10 May 2010
Location: Busan
|
| Posted: Wed Dec 15, 2010 4:50 am Post subject: |
|
|
I forgot to say in my post, I have a car, a 1996/7 Kia Credos, it was bought of a friend of a friend for 700,000 Won, its a bit of a beater, but good enough, it's done 120,000Kms clean enough inside all works, and I only use it on the weekends so don't think I'll be putting loads of miles on it.
Hopefully it lasts a year or two, moral of the post, see what friends or friends of friends know about?
http://img143.imageshack.us/img143/5594/20101020123417.jpg
does daves hate imageshack? |
|
| Back to top |
|
|
Troglodyte
Joined: 06 Dec 2009
|
| Posted: Wed Dec 15, 2010 7:53 am Post subject: |
|
|
I don't know where Korean cars go, but I'm sure that most Koreans do. I remember though that when I was in Japan people do me that most second hand cars get sent to poorer countries in the Asia-Pacific area. I have no idea how much it costs to convert them over to left-hand drive but that's what I was told. Apparently in Japan it's very hard for cars to pass their annual inspections after 5 to 7 years. If they can't pass the inspection, or if it would be too expensive, then the cars are just sold and you buy a new one. Individual owners don't ship them abroad. There are people/companies that buy up lots of them and ship a bunch of them at the same time to the same destination.
Maybe there's a similar reason in Korea. Maybe it's too hard/expensive to keep them up to standards after a while so they get sold and shipped abroad. The government might also be giving incentives to buy new cars.
I have noted that there don't seem to be many old beater cars on the road here (with the exception of old Bongo trucks). |
|
| Back to top |
|
|
eb
Joined: 24 Nov 2010
|
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
