Used Cars Much More Popular Now

Home > National > Social Affairs

print dictionary print

Used Cars Much More Popular Now

In the past, Koreans shunned used cars in favor of buying new ones every four or five years. But since the IMF crisis and the prolonged recession formerly owned cars are increasingly growing in popularity as frugal customers look for ways to cut down on expenses. Although, as the recession now appears to be waning, sales of new cars have started rebounding, used cars have maintained their foothold in the Korean car market.
According to the Seoul Automobile Dealers Association, 481 late-model used cars (1998 and 1999) were officially sold in January and February which is about four times more than that of the same period in 1998.
The most obvious reason for the rise is the lower price, but purchasers can also save an additional 820 dollars in taxes and registration fees that are added to the price of new cars.
Customers also feel that in terms of quality late-model used cars function just as well as new cars.
Kim Jong Man, a member of the association, asserted, 'A 1999-model used car is up to 2000 dollars cheaper than the new models of the year 2000 which are beginning to come out, and customers can also save on the registration tax.
For instance, to buy Hyundai's new Grandeur XG Q30 model would cost 26,025 dollars including tax and everything; however, 1999 model would cost substantially less, 20,000 dollars.
Hwashik Bong : trojans@joongang.co.kr


Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)