▲ BMW 5 Series and Volkswagen New Beetle for sale for 1 million won [사진출처=엔카닷컴]
Kim Jin-ho (pseudonym, 27), who got a job this year, holds a “closet license”. I got my license when I was in college, but I have little driving experience. He gave up trying to buy a new car for a weekend trip he had previously abstained from due to the COVID-19 outbreak. I had to wait over a year for delivery.
Instead, I bought a cheap used car and changed my mind about using it for a weekend trip for a year or two. Instead of using expensive installments to buy a new car at a later date, it’s reducing the purchase burden while paying in savings and getting used to driving.
![Imported used car inspection scene [사진출처=케이카]](https://i0.wp.com/file.mk.co.kr/mkde_7/N0/2022/10/20221007_5283158_1665126052.jpeg?w=700&ssl=1)
▲ Imported used car inspection scene [사진출처=케이카]
A car is for most people the second most expensive property after a house. If you want to buy a small domestic SUV or a beginner’s favorite semi-midsize sedan, you need to pay 20 million won or more.
To buy a mid-size domestic SUV or a mid-size sedan, you need to have 30 million won. Even when you buy the cheapest compact car among new cars, you must have at least 10 million won.
If you add practicality and safety specifications to eliminate the shortcomings of a compact car that is small, unstable and uncomfortable, it takes more than 15 million won.
Is it worth using a used car that is cheaper than a smartphone?
![Revision and sale of used cars [사진출처=엔카닷컴, 케이카]](https://i0.wp.com/file.mk.co.kr/mkde_7/N0/2022/10/20221007_5283158_1665126063.jpeg?w=700&ssl=1)
▲ Overhaul and sale of used cars [사진출처=엔카닷컴, 케이카]
For a 10 million won used car, you can buy a semimedia or medium car that is larger and more expensive than a compact car. For 30 million won, you can buy premium imported cars like Mercedes-Benz, BMW and Audi, as well as Porsche and Jaguar Land Rover. You can also save on taxes and insurance compared to a new car.
You can find a used car with a high value for money (value for money) that you can drive for several years without any inconvenience even for 5 million won.
It looks old due to the signs of aging, but can be used for horse riding. You can buy domestic cars and imported cars.
![Used car diagnosis [사진출처=엔카닷컴]](https://i0.wp.com/file.mk.co.kr/mkde_7/N0/2022/10/20221007_5283158_1665126075.jpeg?w=700&ssl=1)
▲ Used car diagnosis [사진출처=엔카닷컴]
Also, there are many used cars under 2 million won that can be bought with the money to buy smartphones and laptops like iPhones and Galaxy.
It has been out of the box for a long time and there are many parts that have been replaced or replaced due to major and small accidents, but it is enough to use it for the first car in life or to practice driving for about a year.
Used cars tend to depreciate after 10 years or more. Since the price has already dropped enough, even though it is being resold as a used car, there is little loss.
Most cars under 2 million won are devalued by less than 500,000 won from the purchase price even if they are sold for a year. Even if you scrap a car, you can get 200,000 to 500,000 won for scrap metal.
On the other hand, even if you sell a used car worth 20 million won or more as soon as you buy it, there is a high chance of losing 1.5 million to 2 million won. This is because there are financial costs, acquisition costs, taxes and fees.
There are many BMWs, Audis and Volkswagens in the 1 million won range.
![The BMW 320i is priced at 1.95 million won [사진출처=엔카닷컴]](https://i0.wp.com/file.mk.co.kr/mkde_7/N0/2022/10/20221007_5283158_1665126089.jpeg?w=700&ssl=1)
▲ BMW 320i priced at 1.95 million won [사진출처=엔카닷컴]
At 10:00 on the 7th, there are 900 used cars with less than 2 million won on Encar.com, the largest car exchange platform in Korea. A wide variety of imported cars and domestic cars are available.
In the case of imported cars, popular models such as the BMW 5 Series and 3 Series, Audi A4, Volkswagen Jetta and Beetle and Volvo S80 sold for less than 2 million won.
The 2006 BMW 523i is priced at 1.99 million won. The mileage is 160,000 km, which is relatively short for its model year. The 2006 BMW 320i was also on sale for 1.99 million won. The mileage is 220,000 km.
There is no history of accidents or repairs in the used car performance and condition record published by the seller. The mileage is 180,000 km.
The 2005 Volvo S80 2.0T model is 2 million won. Repaired the front fenders and rear doors. The mileage is 170,000 km.
![Audi A4 Cabriolet sold for 1.5 million won [사진출처=엔카닷컴]](https://i0.wp.com/file.mk.co.kr/mkde_7/N0/2022/10/20221007_5283158_1665126101.jpeg?w=700&ssl=1)
▲ Audi A4 Cabriolet is on sale for 1.5 million won [사진출처=엔카닷컴]
The imported convertible cars can also be purchased for less than 2 million won. The 2003 Audi A4 2.4 Cabriolet model is 1.5 million won.
The 2003 Volkswagen Beetle with a clean exterior was priced at 1.9 million won. He has traveled 160,000 km. In the performance check recording, it was stated that the side sill panel had been repaired and the other parts were in good condition. The New Beetle is an imported car that is popular with women for its cute beetle-like appearance.
The popular Volkswagen Jetta as the first car between the ages of 20 and 30 is priced between 1.8 million and 1.99 million won. The 2007 Jetta 2.0 TDI is 1.8 million won. As a result of Enka’s diagnosis, there is no accident. The mileage is 150,000 km, which is short compared to the model year.
The 2005 Saab 9-3, treated like a classic car, costs 1.99 million won. There is no accident / repair history in the performance check book. The mileage is 130,000 km which is very short for its model year.
Mercedes-Benz C200 2012, Mercedes-Benz E300 4Matic 2010, Mercedes-Benz S500L 2019 models were on sale for 1.11 million won on the 6th. It was canceled after double-checking on the 7th day. It is possible that this is an unusual object.
Morning as well as Grandeur can be purchased for 1 million won.
![Forte Coop appeared for sale at 990,000 won [사진출처=엔카닷컴]](https://i0.wp.com/file.mk.co.kr/mkde_7/N0/2022/10/20221007_5283158_1665126118.jpeg?w=700&ssl=1)
▲ Forte Coop appeared for sale at 990,000 won [사진출처=엔카닷컴]
There are about 870 domestic cars for sale with less than 2 million won. There are many compact cars like Kia Morning and Chevrolet Matiz for less than 1 million won. Most of the cars were released in 2004-2008. Renault Korea (formerly Renault Samsung) SM5 2007-2008 models are also often released.
The 2004 Morning model is 1 million won. The mileage is only 100,000 km. Instead, the hood, bumpers and doors have been repaired.
The 2007 Renault Korea (formerly Renault Samsung) SM5 model is also 1 million won. Although the mileage is 220,000km, there is no history of accidents or repairs due to the performance check record.
The 2011 Kia Forte Coupe 1.6 is priced at 990,000 won. The front fender has been repaired. The mileage is only 90,000 km.
There are also compact cars with shorter models, as well as midsize cars, semi-large cars, SUVs and vans for sale in the 1,110,000 to 2 million won range.
![SM5 sold for 1 million won [사진출처=엔카닷컴]](https://i0.wp.com/file.mk.co.kr/mkde_7/N0/2022/10/20221007_5283158_1665126131.jpeg?w=700&ssl=1)
▲ SM5 sold for 1 million won [사진출처=엔카닷컴]
In the case of Hyundai, there are Avante, Sonata, Grandeur and Starex. Kia models have relatively many locas.
Chevrolet Lacetti, Cruze and Winstorm are sold in this price range. Renault Korea often comes out with SM3, SM5 and SM7.
In the case of the semi-medium models, the Cruise 1.6 model of 2011 was 1.59 million won, the Avante of 2005 was 1.98 million won, and the SM3 of 2010 was 1.99 million won.
Avante, which is popular not only in the new car market but also in the used car market, is being sold for a higher price than its model year.
In the midsize car model, the Roche Advanced LPG costs 1.69 million won, the 2011 SM5 1.9 million won and the 2005 Sonata 2 million won. The Sonata, also in great demand, is priced higher than its competitors.
The 2007 Grandeur, a semi-large sedan, costs 2 million won and the 2005 SM7 model costs 1.29 million won. The 2007 Winstorm 7-seater SUV is priced at 1.99 million won and the 2002 Starex van is priced at 1.99 million won.
Beware of fakes and bait scammers
![Volkswagen Beetle is priced at 1.9 million won [사진출처=엔카닷컴]](https://i0.wp.com/file.mk.co.kr/mkde_7/N0/2022/10/20221007_5283158_1665126145.jpeg?w=700&ssl=1)
▲ Volkswagen Beetle priced at 1.9 million won [사진출처=엔카닷컴]
You can’t buy a car just because it’s cheaper than the iPhone 14 (1.25 to 2.5 million won). Of course, there are no cheap and good cars. Instead, there are cars with a high price-quality ratio (value for money).
Cars with less than 2 million won are mainly bought for inexperienced drivers to use 6 months to 1 year for driving tests before buying a better car. When you are a novice driver, it is good to have a car that has a small weight even if it is scratched or crushed.
Because the price is low, the burden is small, and the taxes and auto insurance premium are low. If you don’t buy your vehicle damage insurance, you can save around 40% of the insurance premium.
However, as it was shipped over 10 years ago, the exterior is not clean and has a relatively large number of accidents. Since the profit is small, the dealer who is the seller sometimes sells the used car without marketing it, for example by removing scratches or polishing it.
![used car overhaul [사진출처=엔카닷컴]](https://i0.wp.com/file.mk.co.kr/mkde_7/N0/2022/10/20221007_5283158_1665126158.jpeg?w=700&ssl=1)
▲ Used car inspection scene [사진출처=엔카닷컴]
When choosing a car, it is better to look for flaws in the bodywork or functions rather than in the appearance. In addition to the purchase cost, a separate cost is set aside for the inspection of tires, oil and brake parts. It’s okay to use cheap used parts to repair it.
If you are a novice driver, it is good to choose a compact, small or semi-compact car that has low maintenance and repair costs and is easy to drive.
If the car is worth 1 million won, you can get more than half the price when you resell it. If you buy it for 2 million won and drive it for 2-3 years without serious accident, you will get 1 million won.
If you buy it for less than 1 million won, you can get 200,000 to 300,000 won for scrap metal, even if it is scrapped after 1 or 2 years of use. If it is possible to export used cars, there is a possibility of receiving a higher price.
When buying a used car for less than 2 million won, you should beware of fake sales or bait sales. If the price is too low compared to the model year, there is a high possibility that it is a fake sale or bait to cheat or cheat.
In the case of imported cars, the cost of repair is higher than the price of the car, so they appear in the used car market at a low price. Better to receive a paid diagnosis and overhaul service or take advantage of a service accompanied by a used car expert.
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