How we calculate

Residual value

Residual value = new price × age-based residual rate (interpolated from a 10-year curve per model, or segment average when a model-specific curve is unavailable) × mileage adjustment. The mileage adjustment compares actual mileage with the 15,000 km/yr standard, bounded between 0.7 and 1.15. Cars older than 10 years lose an extra 5%p per year with a 5% floor. Vehicle age follows the model-year convention (current year − model year).

5-year total cost of ownership

TCO = depreciation (value now − value in 5 years) + fuel (annual km ÷ efficiency × price) + insurance (reference range midpoint by age band) + vehicle tax + maintenance (grade × age table). Monthly and per-km figures divide the total by 60 months or 5 years of mileage.

Vehicle tax

Non-commercial passenger rates: 80 KRW/cc up to 1,000cc, 140 KRW/cc up to 1,600cc, 200 KRW/cc above, plus 30% local education tax. From the 3rd year the tax is reduced 5% per year up to 50%. EVs pay a flat 130,000 KRW plus education tax.

Acquisition tax & fees

Acquisition tax is 7% for non-commercial passenger cars (city cars get a reduction), plus public bond purchase/discount cost and registration fees which differ for new and transferred registrations. Tables are managed as parameters and updated periodically.

Insurance reference range

Insurance figures are reference ranges by driver age band drawn from public disclosures — they are not quotes. Your premium depends on coverage, history and insurer.

Where the numbers come from

Depreciation curves and cost tables are our own estimates compiled from public statistics and disclosures. They are maintained as parameters with base dates shown below and refreshed periodically.

Frequently asked questions