Vehicle Purchase Cost Calculator

Vehicle Purchase Cost Calculator helps estimate purchase, used-car, import, ownership transfer, depreciation, and total-cost scenarios in English.

Purchase scenario

Cost comparison

Cheapest method

Lease

₩20,430,000

Most expensive method

Cash purchase

₩43,542,778

Savings gap

₩23,112,778

Cheapest monthly equivalent

₩567,500

Cash net cost

₩43,542,778

Rental net cost

₩40,320,000

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Korea vehicle purchase-method total cost comparison

This English guide follows the Korean calculator logic and preserves the Korean rates, thresholds, statutory periods, and insurance assumptions used by the source page.

What the four purchase methods include

The Korean calculator compares cash purchase, installment financing, lease, and long-term rental for the same vehicle. The default example is a KRW 40 million sedan, held for 60 months, with KRW 800,000 annual insurance and KRW 500,000 annual maintenance.

Cash purchase includes acquisition tax, annual car tax, insurance, maintenance, depreciation, and a cash opportunity-cost rate of 3.5 percent. Installment financing adds a down payment, repayment method, loan months, and interest. The default installment rate is 5.9 percent.

  • Lease default: 30 percent deposit, 36 months, 40 percent residual value, and 6.5 percent lease rate.
  • Long-term rental default: 36 months and a monthly rental rate equal to 2.8 percent of vehicle price.
  • The comparison uses net cost after residual value, not only monthly payment.

Tax and depreciation assumptions

The model applies Korean acquisition-tax rates by vehicle category and the electric-car annual vehicle tax amount of KRW 100,000. Combustion passenger cars use displacement-based annual tax with local education tax included.

Residual value is calculated from the Korean depreciation table. A vehicle retains 80 percent after 1 year, 55 percent after 3 years, 38 percent after 5 years, and 15 percent after 10 years in the source model.