Car Secured Loan Calculator

Car Secured Loan Calculator helps estimate Korea-related auto loan, secured loan, lease, residual, and early-termination assumptions in English.

Car-secured loan inputs

Car-secured loan result

Loan limit

₩18,000,000

Applied LTV

90.0%

Monthly payment

₩465,000

Total interest

₩2,740,017

Lien setup cost

₩43,680

Net disbursement

₩13,956,320

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Korean car-secured loan LTV, lien cost, and repayment estimate

This English guide follows the Korean calculator logic and preserves the Korean rates, thresholds, vehicle classifications, and administrative assumptions used by the source page.

LTV limit and lender assumptions

The car-secured loan calculator uses vehicle appraisal value, car age, existing secured debt, lender type, credit grade, requested loan amount, annual rate, term, repayment method, lien registration, and lien ratio. The Korean source first computes applied LTV and loan limit before calculating repayment.

Base LTV and rate differ by lender. Banks, capital companies, savings banks, card companies, and licensed moneylenders use different high, mid, and low credit assumptions. Car age then adjusts LTV, with older vehicles receiving lower recognized collateral value.

  • The legal maximum interest rate represented in the source constants is 20 percent.
  • The default lien ratio is 130 percent of loan amount.
  • Requested loan above the computed limit is flagged separately from the repayment math.

Lien setup cost and net disbursement

When lien registration is selected, the source calculates a lien amount from loan amount and lien ratio. Registration license tax is 0.2 percent of lien amount, and local education tax is 20 percent of that registration license tax.

Net disbursement is loan amount minus lien setup cost. The result therefore shows a practical cash-receipt number, not only the contractual principal and monthly payment.