Buying a Car in Korea
First things first: there are a few essential things you’ll need to present upon buying a car (either new or used) in Korea, including:
As you can see, the required paperwork to buy a car in Korea is surprisingly minimal. Unlike many other countries, there aren’t many hoops to jump through for this process in Korea. Even if (for whatever reason) you don’t have your ARC, you can still get a Korean friend or co-worker to vouch for you.
If you buy a car in Korea, you’ll need to pay at least 9% in taxes. Here’s how it breaks down:
Your auto taxes will need to be paid every three months. You can do this at any bank.
Registering your used vehicle:
You must register your vehicle within 15 days of purchasing it. If you request it, the car dealership will take care of this for you. Some charge a fee while others don’t. The registration fee will be 5% of the vehicle’s price.
Other things you’ll need:
Odds and Ends
Here are some other important things to keep in mind when you buy a car in Korea:
Gabrielle interned as a Content Creator for Work'n'Play during her exchange trip to Chung-Ang University in 2012-2013. She graduated from Vancouver Island University in May 2014 with her BA in Global Studies. She is now a Master's student at the Norman Paterson School of International Affairs in Ottawa, Canada. The things she misses most about her year in Korea are: going for makgeolli + jeon with friends, exploring Seoul's new and old hidden treasures and getting to practice Korean every day. You can connect with her on Twitter at @MsGabrielle or email her at email@example.com.