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How and Where to Check Your Vehicle's Value: 4 Easy and Fast Ways

  • Written Language: Korean
  • Country: All Countriescountry-flag
  • Economy

Created: 2024-11-13

Created: 2024-11-13 12:41

Want to know the price of a car?Vehicle value is used in various fields such as car tax, insurance premiums, and used car transactions. However, it's unclear where and how to check it, right? Today, we will easily and simply explain four ways to check the vehicle's value.

Why do you need to check the vehicle's value?

  • Calculating car tax and insurance premiums: Taxes and insurance premiums vary depending on the vehicle's value.
  • Used car transactions: Used to find out the appropriate price of your car.
  • Government support programs: It serves as a criterion for judging eligibility for various support programs such as electric vehicle subsidies and basic pensions.
  • Housing subscription: Used to determine the asset standard when applying for public housing.

Where can I check the vehicle's value?

Vehicle Value Inquiry Methods

Vehicle Value Inquiry Methods

1. National Tax Service Hometax: Used to check the value related to taxes such as car tax and acquisition tax.
2. Bokjiro (Welfare site): Used to check the value related to welfare services such as basic pensions and public housing subscriptions.
3. Korea Insurance Development Institute: Used to check the value used in calculating car insurance premiums and handling accidents.
4. Car 365: Used when you want to check the used car price.

How to check vehicle value by institution

  • National Tax Service Hometax: After logging in to Hometax, click 'Passenger Car Value Inquiry' in the 'Incentive Programs/Year-End Tax Adjustment Electronic Donations' menu and enter the car name and model number.
  • Bokjiro (Welfare site): After logging in to Hometax, click 'Basic Pension' in the 'Welfare Services' menu and click the 'Social Security Vehicle Standard Value (Inquiry)' button.
  • Korea Insurance Development Institute: Click the 'Vehicle Standard Value' menu on the website and enter the vehicle information.
  • Car 365: Click 'Used Car Price Inquiry' on the website and enter the vehicle information.

Points to note when checking vehicle value

  • The inquiry method and the information provided may differ depending on the institution.
  • The inquiry results may vary depending on various factors such as the vehicle's age, model, options, and mileage.
  • Used car prices may fluctuate depending on supply and demand.

Frequently Asked Questions (FAQ)

  • Are vehicle value and market price the same?
    • Vehicle value is a legally defined value, while market price refers to the actual transaction price.
  • Which institution's inquiry is the most accurate?
    • You need to choose the appropriate institution depending on the purpose. For example, if you want to calculate car tax, it is better to use the National Tax Service Hometax.
  • Does the vehicle value change every year?
    • Yes, it may change every year due to various factors such as vehicle depreciation and model changes.

Easily check your vehicle's value now!

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