Compare a new special-purpose vehicle with conversion
This calculator helps a business owner compare buying a new special-purpose vehicle with converting an existing vehicle to perform the same work.
A delivery box truck, refrigerated vehicle, mobile shop or truck-mounted crane can involve fabrication, design, approval, inspection and downtime costs in addition to the vehicle price.
Two quotes with the same vehicle description may still cover different body dimensions, insulation, materials, equipment capacity and warranties.
Enter actual quotes and your own lower, base and upper fabrication assumptions.
Selecting a body type does not generate a market price.
The results separate acquisition outlay, initial net funding and economic costs over a common period.
Confirm both the affordability of the project and whether the proposed specification can be built, registered and operated.
Korea-specific scope, in KRW
This English calculator uses the same Korean rules and pure calculation function as the Korean page, with official sources reviewed on 2026-09-07.
All amounts are Korean won, not converted foreign prices.
The saved comparison is a discussion aid for the fabricator and the Korea Transportation Safety Authority (TS), not an approval document or a binding quotation.
Put both quotes on the same basis
Base chassis or turnkey price
Check whether the vehicle quote covers only the chassis or a completed special-purpose vehicle.
If fabrication and equipment are already in a turnkey quote, enter zero for those additional items.
Compare included and excluded work line by line before comparing headline totals.
Fabrication and equipment
Fabrication includes the quoted materials and labor.
Use conditional quotes or comparable supplier quotes for the lower, base and upper amounts.
Enter lifts, refrigeration units and power equipment separately only when they are excluded from fabrication.
For one firm quote, use the same amount for all three values.
Design, tax and bonds
Drawings and application-agent services are separate from TS fees.
Group additional removal, delivery, registration and certification expenses under other costs without repeating included items.
Enter confirmed acquisition tax and the actual loss on an immediate bond sale.
Holding a bond requires a separate cash plan because maturity proceeds and interest are not modeled here.
Existing value and terminal resale
Current vehicle value is the amount obtainable today after selling costs, assuming the existing vehicle is debt-free.
Conversion retains that asset and includes its current value as an opportunity cost.
Purchase assumes an immediate sale of the old vehicle to help fund delivery.
Terminal resale is the net recovery from each vehicle and its equipment at the end of the same comparison period.
Use VAT-inclusive payment amounts consistently for both options.
VAT recovery and income-tax savings are not calculated; compare differing tax treatments separately after confirmation.
The fabrication range is a user-entered quote range, not a statistical confidence interval or a recommended market rate.
Quote checks for the seven conversion types
- Box body: match body dimensions, floor durability, door positions and waterproofing.
- Wing body: compare opening mechanisms, hydraulics, operating clearance and safety equipment.
- Refrigerated body: confirm insulation, cooling capacity, external power, installation and servicing scope.
- Tail lift: check lifting capacity, mounting, power requirements and the resulting payload change against drawings.
- Water sprinkler: review the tank, pump, plumbing, gross weight and axle loading with water onboard.
- Mobile shop: settle the sales, electrical and gas equipment list, then separately check operating-location and business requirements.
- Truck-mounted crane: include the review of mounting structures, supports, vehicle stability and intended operating conditions.
These are quotation prompts, not a performance test or engineering assessment.
Payload class, model year and specifications are notes for comparing the same vehicle; they do not automatically change prices.
A commercial description such as special-purpose vehicle does not necessarily establish the statutory vehicle classification shown on Korean registration documents.
Keep tuning approval and inspection fees separate
The following reference amounts were checked on the TS automobile tuning page on 2026-09-07.
Approval and the subsequent tuning inspection are separate charges.
Use the vehicle size classification confirmed by TS; payload tonnage alone does not automatically establish the inspection category.
TS automobile tuning approval and inspection reference fees in KRW| Item | KRW |
|---|
| Structure and equipment approval | 60,000 |
| Equipment-only approval | 35,000 |
| Mini / small vehicle tuning inspection | 31,000 |
| Medium vehicle tuning inspection | 36,000 |
| Large vehicle tuning inspection | 40,000 |
Structure approval and a mini/small inspection total KRW 91,000 as a reference.
This is not the price of a turnkey fabrication or agency package.
Check design, agency services, additional inspections and reinspection separately.
If approval and inspection are already included in a quote, use manual mode and enter only the additional amount.
A manual fee of zero does not establish a fee exemption or exemption from approval.
Treat an unconfirmed fee scope as an incomplete quotation.
New-vehicle certification and registration can follow a different process from tuning an already registered vehicle, so enter separately confirmed costs for the purchase option instead of automatically applying conversion fees.
How outlay, financing and period costs are calculated
1. Acquisition outlay
Outlay = vehicle purchase + additional fabrication + equipment + design/agent + other costs + acquisition tax + bond-sale loss + applicable approval/inspection fees.
An owned conversion vehicle has zero new purchase outlay; its current value is counted once as an opportunity cost later.
2. Equal-payment financing and downtime
Monthly rate r = annual percentage rate ÷ 1,200.
Monthly payment M = P × r ÷ [1 − (1 + r)^(−n)], where P is loan principal and n is the number of monthly payments.
At zero interest, M = P ÷ n; total interest = M × n − P.
The model assumes fixed-rate monthly payments in arrears, with repayment completed inside the comparison horizon.
Principal is already in the outlay and is not added to cost again.
Displayed payment rounding can differ from a lender schedule.
Downtime loss = idle days × lost daily contribution.
3. Costs over a common period
Period cost = outlay + total interest + downtime loss + entered annual running costs × years + expected additional loss + existing-vehicle opportunity cost on conversion − terminal net resale.
Initial purchase cash = outlay − new loan principal − immediate old-vehicle sale proceeds.
Initial conversion cash = outlay − new loan principal.
Do not add acquisition outlay to period cost: the latter already includes the former.
4. Risk and quote ranges
Expected additional conversion loss = additional restoration/rework loss × assumed probability ÷ 100.
The stress result replaces that expected value with the full additional loss.
The lower/base/upper comparison changes fabrication costs only and holds other inputs fixed.
It does not simultaneously capture every uncertainty in resale, delivery or operating conditions.
Step-by-step use
- Select the conversion type and record vehicle class, model year, body dimensions, materials and equipment.
Match the capability required for the same work.
- State whether you already own the conversion vehicle and enter its current net sale value.
Otherwise enter an actual used-vehicle purchase quote under conversion.
- Enter fabrication ranges, separate equipment, design, other costs and tax for both options.
Use bond immediate-sale loss and remove any duplicated included items.
- Enter running costs, resale and downtime over the same period, then open the loan section if needed.
If the comparison horizon changes, recheck the loan term.
- Verify the fee scope and additional-loss assumptions, and select proposed changes.
Approval requires review of actual before-and-after drawings and applicable standards.
- Confirm that the quote scope has been reconciled, then save the comparison.
Use both the numbers and unresolved items to obtain clarification from the supplier and TS.
Fictional worked example over five years
These teaching values are not Korean special-purpose vehicle market prices or supplier quotations.
Assume a debt-free existing vehicle worth KRW 10,000,000 today and a five-year comparison.
Purchase has a KRW 40,000,000 base vehicle and KRW 10,000,000 base fabrication quote, plus equipment 2,000,000, design 300,000, other costs 500,000, acquisition tax 2,000,000 and bond loss 200,000.
Purchase running costs are KRW 1,000,000 per year, terminal resale is KRW 20,000,000, and five idle days each lose KRW 100,000 of contribution.
A fictional zero-interest KRW 12,000,000 loan over 24 months has a KRW 500,000 monthly payment and zero total interest.
Conversion has base fabrication of KRW 8,000,000, equipment 2,000,000, design 300,000, other costs 500,000, tax 200,000, no bond loss, and approval/inspection of 91,000.
Conversion running costs are KRW 2,000,000 per year, terminal net resale is KRW 5,000,000, and downtime is ten days × KRW 100,000.
There is no new conversion loan.
Assume an additional restoration loss of KRW 4,000,000 at a fictional 25% probability, producing an expected additional cost of KRW 1,000,000.
The probability is not an observed approval-rejection statistic.
Fictional five-year purchase and conversion results in KRW| Result | Purchase A | Conversion B |
|---|
| Base outlay | 55,000,000 | 11,091,000 |
| Initial net cash needed | 33,000,000 | 11,091,000 |
| Base five-year cost | 40,500,000 | 28,091,000 |
| With lower fabrication quote | 38,500,000 | 26,091,000 |
| With upper fabrication quote | 42,500,000 | 30,091,000 |
Fabrication ranges are KRW 8,000,000–12,000,000 for purchase and KRW 6,000,000–10,000,000 for conversion.
The base difference A minus B is KRW 12,409,000, and conversion costs less across the entered fabrication ranges.
If the full additional restoration loss occurs, conversion period cost becomes KRW 31,091,000.
These cost results do not establish approval eligibility or supplier quality.
Interpret funding and economic cost separately
An owned vehicle is still an asset
The historical price paid for an existing vehicle is not new spending for this decision.
However, retaining it sacrifices the amount available from selling it today.
That current value enters conversion cost once.
Subtracting the same current value again from purchase economic cost would count the asset twice.
Large resale assumptions
A high terminal resale estimate can reduce period cost or make it negative.
That means assumed recovery exceeds entered costs; it is not guaranteed income.
Check demand, condition, separability of equipment and sale expenses, then rerun with a conservative net resale assumption.
Overlapping quote ranges
If ranges overlap or just touch, the calculator does not label one option as cheaper across the entire range.
Even a base-case difference can reverse when fabrication options or excluded charges change.
Match the specification more closely or confirm excluded work before narrowing the range.
Cash needed before delivery
Initial net cash assumes the loan and sale proceeds are available when delivery is paid for.
If the old vehicle sells later or loan funding is delayed, deposits and stage payments may require more cash earlier.
A negative initial figure means a net inflow at that modeled moment, not overall business profit.
Approval checks before fabrication
Motor Vehicle Management Act Article 34 addresses prior approval for designated tuning categories and eligible work providers; Article 43(1)(3) addresses tuning inspection.
Enforcement Rule Article 55 and Enforcement Decree Article 8 identify relevant structures and equipment, including dimensions, gross weight, body/chassis and cargo equipment.
Exceptions for designated minor changes exist, so checkboxes cannot conclusively establish approval requirements.
Rule Article 55(2) includes restrictions such as increasing gross weight beyond the permitted manufacturing limit, alongside specific exceptions to vehicle-type changes, including freight/special-vehicle conversions.
A particular crane or tank installation needs review of chassis, gross weight, axle loading, safety standards and detailed drawings.
This screen neither calculates those engineering limits nor labels a design as approved.
Normally inspect within 45 days of approval
Rule Article 56(3) requires approved tuning work by an eligible provider and tuning inspection within 45 days of approval.
The period starts at approval, not fabrication completion.
Under Article 56(6), an authority may grant one extension of up to 45 days for qualifying unavoidable circumstances following an application within the inspection period.
This additional time is not automatic.
- Prepare the before/after specification comparison, exterior drawings if the exterior changes, and drawings of the structures/equipment to be modified.
- Confirm provider eligibility, work scope and responsibility for applications, drawings, inspections and rework costs in writing.
- Check equipment delivery and inspection availability against the post-approval schedule; ask about extension procedures if needed.
- Separately check relevant mobile-business, food, gas, worksite-safety or construction-machinery requirements with the responsible authorities.
Business scenarios and model limits
You own a vehicle but need equipment
For an older vehicle, test cautious maintenance and downtime assumptions alongside the conversion quote.
New equipment does not eliminate problems elsewhere in the vehicle.
Get the existing vehicle inspected and confirm post-conversion warranties and exclusions.
You are starting a business
Switch off existing ownership and enter the used conversion vehicle price to compare turnkey purchase with buying and modifying a used vehicle.
Commercial plates, transport-business permissions and working capital are not automatically included.
A vehicle acquisition total alone is not a complete business-startup budget.
Lead times and extra work are uncertain
Use lower and upper quotes for the same specification and enter the contribution lost while operations are interrupted.
If a replacement vehicle reduces the loss, use the remaining net loss; do not count the same lost sales and replacement costs twice.
Restoration risk must likewise represent additional loss beyond costs already included, not another copy of the original fabrication bill.
Results are nominal economic costs within the entered scope, not full transport TCO.
The model does not calculate discounting, interest opportunity cost on equity, freight revenue, automatic fuel costs, after-tax profit or daily cash balances.
Grace periods, balloon payments, interest-only loans and existing vehicle debt require separate repayment schedules and funding plans.
Frequently asked questions
Does choosing a conversion type change the price?
No.
The type records the quotation target.
There is no common official fabrication price schedule in this tool, so enter actual supplier quotes.
My turnkey price includes refrigeration and fabrication. What do I enter?
Do not enter included fabrication or equipment again.
Add only separately charged options and compare a conversion quote with the same specifications.
Is acquisition tax always zero on conversion?
No.
Local Tax Act Article 7(4) treats an increase in value resulting from a vehicle-type change as an acquisition in the relevant circumstances.
Confirm applicability and the tax amount rather than assuming that all conversion is tax-free.
Do unchecked changes mean approval is unnecessary?
No.
A missing check is not evidence of an exemption.
Confirm the actual changes, minor-change exceptions and safety standards with TS before work.
Is finishing fabrication within 45 days enough?
The normal requirement is tuning inspection within 45 days of approval.
Delivery delays do not automatically extend the period.
Check the grounds and apply within the inspection period if an extension is needed.
Is the example probability of 25% official data?
No.
It is a fictional user assumption, not an observed rejection rate or statutory risk percentage.
A manageable cost estimate does not authorize work without approval.
Does borrowing more make the vehicle cheaper?
Borrowing can reduce initial cash but does not reduce the vehicle price.
Principal is already included in outlay, so only total interest is added to economic cost.
Can the saved report replace a quote or approval?
No.
It is a consultation record of your inputs.
It does not replace a supplier quote, contract or approval.
When you start from the fictional example, the example label remains even after edits.
2026 sources and future review
Official sources were reviewed on 2026-09-07.
Motor Vehicle Management Act ID 001747 / MST 286989 was checked at its 2026-06-16 effective version for Articles 34 and 43.
Enforcement Decree ID 004590 / MST 286479 and Enforcement Rule ID 007928 / MST 286695 were checked at the 2026-06-03 version.
Local Tax Act ID 001649 / MST 282559 is in the 2026-07-01 effective-date grouping; the cited Articles 7 and 12 have an article effective date of 2026-01-01.
The ordinary law-detail API returned a future Article 34 effective 2026-12-17, so the effective-date endpoint was used to retrieve the presently applicable text.
The future safety-confirmation provision is not applied as a current approval exemption.
Recheck effective law, TS fees, inspection classification, actual tax and bond conditions when ordering, especially after a legislative change.
Bring an itemized comparison to the fabricator
Prepare registration documents, proposed specifications and included/excluded items from both quotations.
Save the results and obtain written confirmation of who applies for approval, inspection timing, deposit refunds and responsibility for design changes or restoration.
Matched specifications make the reasons for price differences and the next checks easier to identify.
Compare purchase and conversion quotes