Korean Job Discussion Forums

PeterDragon · Joined: 15 Feb 2007

I just had a good experience I'd like to share with the rest of you. I recently got my K-Driver's License. Then I began the Great Car Hunt. I wasn't quite willing to spring for a brand new car, and with every used car I saw for sale it was one of two stories: The car was already taken by the time I called, or I couldn't find the type of car I wanted, since the only kind of car I'm willing to drive with Korean gas prices is a supercompact "smart" car.

Then, through googling, I found Ace Motors in Gimpo. They specialize in selling and long term renting to foreigners, and their website is all n English. "Jonathan" (probably not his real name) speaks perfect English and is a straight shooter. He's renting me a brand new Matiz (50-60 miles per gallon), with an English language GPS and liability coverage for 400,000 won a month. Plus, of course, in the unlikely event of engine or tire problems, the rental company will pay for the repairs.

Yes, that means I don't get to recoup any money by reselling it. On the other hand, a brand-new Matiz with tinted windows, liability insurance and an English language GPS would probably run me about 10 million won. Renting it for the next year and a few months (the amount of time I have left in Korea) only runs me 6 million won total, and who knows what I'd even be able to resell it for if I did buy it. When you have a moving sale, you always sell your car for less than you paid.

Obviously there are some pretty good arguments for buying versus renting, but I'd recommend renting to anyone who feels the need to drive and whose remaining time here is under two years.

seoulsucker · Posted: Sun Mar 30, 2008 6:09 pm Post subject:

Link? Phone number?

TheChickenLover · Joined: 17 Dec 2007 Location: The Chicken Coop

I'm buying my wife a new top level matiz for her daily commute to work.

It costs around 7.6M won for a new car. 400k a month is highway robbery.

Chicken

tzechuk · Joined: 20 Dec 2004

What about insurance. Do you have to get that yourself? If so, how?

KumaraKitty · Joined: 09 Jan 2006 Location: Bucheon

We bought a 2002 Matiz in excellent shape and low mileage for 3million and our insurance is 700,000 for a year. They threw in a GPS for free. Service is really cheap here, and we had all new tires put on for 200,000. I think your deal is not so great a deal. Yes, online the new fully loaded Matiz from a dealer is 10mil, but you can get a deal and bargain, there are ways to get them cheaper.

bassexpander · Joined: 13 Sep 2007 Location: Someplace you'd rather be.

After the initial new-buyer's price hit, the resale value on Matiz are very good.

VanIslander

Return Jones · Posted: Sun Mar 30, 2008 7:43 pm Post subject:

Dude, I'm glad to see you're happy to have wheels, but that's really an expensive situation you've got yourself into. You could have gotten a half-decent used beater for like 1 million and sold it for a couple hundred thousand when you left. Also, regardless of mileage, gas isn't cheap! Anyway, good luck with the new Matiz.

PeterDragon · Joined: 15 Feb 2007

seoulsucker · Posted: Sun Mar 30, 2008 7:46 pm Post subject:

Don't know if I'd do the monthly thing, but it's nice to see they can do all their transactions in English...come in handy for the summer travel season.

PeterDragon · Joined: 15 Feb 2007

PeterDragon · Joined: 15 Feb 2007

NightSky · Joined: 19 Apr 2005

that's good if it works for you, but as others have noted it's not the best deal out there.

TheChickenLover · Joined: 17 Dec 2007 Location: The Chicken Coop

New cars come with warranty's. If they break, they are fixed for free. Ntohing new there. Only suckers buy used cars. New is the only way to go if you dont' want the hassle of buying someone else's problems & pay through the nose to fix them.

I will never buy used. It's either new or nothing.

Chicken.

Return Jones · Posted: Sun Mar 30, 2008 8:04 pm Post subject: