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Looking to buy a cheap car in Korea

 
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billyjudd



Joined: 13 Dec 2010

PostPosted: Tue Dec 14, 2010 8:47 pm    Post subject: Looking to buy a cheap car in Korea Reply with quote

What type of bag of bolts can I get for 6 million?

Anybody?
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Scamps



Joined: 01 Feb 2008

PostPosted: Tue Dec 14, 2010 8:52 pm    Post subject: Reply with quote

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?
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billyjudd



Joined: 13 Dec 2010

PostPosted: Tue Dec 14, 2010 8:55 pm    Post subject: Reply with quote

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?
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eamo



Joined: 08 Mar 2003
Location: Shepherd's Bush, 1964.

PostPosted: Tue Dec 14, 2010 9:05 pm    Post subject: Re: Looking to buy a cheap car in Korea Reply with quote

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.
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UknowsI



Joined: 16 Apr 2009

PostPosted: Tue Dec 14, 2010 9:11 pm    Post subject: Re: Looking to buy a cheap car in Korea Reply with quote

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.
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eamo



Joined: 08 Mar 2003
Location: Shepherd's Bush, 1964.

PostPosted: Tue Dec 14, 2010 9:22 pm    Post subject: Reply with quote

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.
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lowpo



Joined: 01 Mar 2007

PostPosted: Tue Dec 14, 2010 9:29 pm    Post subject: Re: Looking to buy a cheap car in Korea Reply with quote

billyjudd wrote:
What type of bag of bolts can I get for 6 million?

Anybody?


www.ancar.co.kr
www.jcmart.co.kr
www.hicarz.co.kr
www.himycar.com
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billyjudd



Joined: 13 Dec 2010

PostPosted: Tue Dec 14, 2010 9:50 pm    Post subject: Reply with quote

Thanks for all the timely responses.

Smile Smile Smile Smile Smile Smile Smile
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Ruthdes



Joined: 16 Oct 2008
Location: Seoul

PostPosted: Wed Dec 15, 2010 2:17 am    Post subject: Reply with quote

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.
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sheriffadam



Joined: 10 May 2010
Location: Busan

PostPosted: Wed Dec 15, 2010 3:12 am    Post subject: Reply with quote

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
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eamo



Joined: 08 Mar 2003
Location: Shepherd's Bush, 1964.

PostPosted: Wed Dec 15, 2010 3:41 am    Post subject: Reply with quote

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.
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sheriffadam



Joined: 10 May 2010
Location: Busan

PostPosted: Wed Dec 15, 2010 4:50 am    Post subject: Reply with quote

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?
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Troglodyte



Joined: 06 Dec 2009

PostPosted: Wed Dec 15, 2010 7:53 am    Post subject: Reply with quote

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).
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eb



Joined: 24 Nov 2010

PostPosted: Wed Dec 15, 2010 6:11 pm    Post subject: Reply with quote

For 6,000 won, you could get a 318I imported.
http://www.tradecarview.com/used_car/japan%20car/bmw/3+series/6117696/
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