How do I buy a used car in Korea as a foreigner?

Buying a used car in Korea as a foreigner is straightforward with the right paperwork. You need an alien registration card, a Korean driving licence (or a valid International Driving Permit if you have just arrived), a Korean phone number, funds or financing, and proof of address.

Where to look. Encar (엔카), KB Chachacha (KB차차차) and Heydealer (헤이딜러) are the large online platforms, with listing photos, accident history and maintenance records shown so you can compare. Apps are for browsing; the purchase itself happens in person. Used car dealership complexes (중고차매매단지) such as Janganpyeong put hundreds of dealers in one place, which is the fastest way to compare in a single day.

What to watch out for. Always read the Auto Performance Record (자동차성능·상태점검기록부), which is required for dealer sales, and treat it as a starting point rather than a guarantee. Check the accident history independently at Car History (카히스토리, carhistory.or.kr), the insurance-claim based service run by the Korea Insurance Development Institute — that is the authoritative source in Korea, and it is the one to use rather than any foreign-branded service. Look for frame damage, repaints around the fenders, and flood-damaged rebuilds, which arrive in numbers after every monsoon. Buying privately (개인 직거래) through classifieds means no dealer warranty, so only do it if you understand what you are giving up. Dealer purchases typically cost 5 to 10 percent more than a private sale but come with a short warranty period.

Pricing. Set a budget first. Prices move with the market, so use the live listings on Encar or KB Chachacha for the model and mileage you want rather than a fixed table. Korean models generally hold value better and have cheaper parts than imports, which carry import duties and a demand premium.

Process. Once you choose a car the dealer handles most of the paperwork. You sign the contract (계약서), pay a deposit (계약금), and the dealer transfers ownership at the vehicle registration office (자동차등록사업소). Bring your alien registration card, licence, proof of address, the payment, and proof of compulsory insurance, which you must have before driving away. Budget for acquisition tax on top of the purchase price — 7 percent for a private passenger car, 4 percent for commercial use — plus registration fees and annual vehicle tax.

Financing. Korean banks do lend to foreign residents with stable income; Hana Bank, Woori and KB all have foreign-customer desks. Note that Korea Exchange Bank merged into Hana Bank in 2015 and the KEB Hana brand was retired in 2020, so ask for Hana Bank. Captive finance companies such as Hyundai Capital often run low-rate promotions through dealers but are stricter on income proof. Rates and terms change, so get two written quotes and compare the total cost rather than the headline rate. The Seoul Global Center and the 1345 immigration contact centre can help with dealer disputes in your language.

Last verified: 2026-09-28