New vs Used vs Long-term rental
Same model, three ways to drive it — 5-year comparison
Choose a model
| Buy new | Buy used(2020) | Long-term rental | |
|---|---|---|---|
| Initial cost | ₩30,062,800 | ₩13,465,480 | ₩0 |
| 5-year outflow | ₩30,062,800 | ₩13,465,480 | ₩26,688,000 |
| Asset value after 5 yrs | ₩14,428,200 | ₩6,429,100 | ₩0 |
| Net 5-year burden | ₩15,634,600 | ₩7,036,380 | ₩26,688,000 |
Assumptions
New/used purchase includes acquisition tax and registration fees. Rental assumes 1.6% of the new-car price per month, insurance and tax included, no asset after return.
Qualitative comparison
| Buy new | Buy used | Long-term rental | |
|---|---|---|---|
| Ownership | Yours | Yours | Rental company's |
| Accident burden | Owner (insurance) | Owner (insurance) | Mostly covered by contract |
| Cash flow | Large upfront | Medium upfront | Flat monthly fee |
The results are estimates based on public statistics and may differ from actual transaction prices and real costs. For reference only — this is not financial or tax advice. See how we calculate
Frequently asked questions
Q.Is long-term rental cheaper than buying?
Usually not over 5 years because you keep no asset, but it wins on cash flow and hassle. The table shows the net burden side by side.
Q.What rental rate is assumed?
By default 1.6% of the new-car price per month, adjustable in the assumptions.