Depending on the purpose of the vehicle value, the inquiry method is slightly different. Often, you can simply inquire through sites such as the Insurance Development Institute, Home Tax, and Welfare Road. So let’s take a quick look.
Inquiry of vehicle price
Vehicle Value Meaning and Calculation
Vehicle value is the current value of the vehicle. It refers to the value of the vehicle at the present time, not the price when buying a new or used vehicle. As a result, the value of the vehicle will decrease over time. 차량가액 조회
The value of the vehicle is the standard for assets in receiving government subsidies such as subscriptions and labor incentives. The higher the vehicle value, the higher my asset, and the lower the vehicle value, the lower my asset. The higher the assets, the more difficult it is to receive various government benefits. 좋은뉴스
In other words, the standard market value of the vehicle is calculated by multiplying the standard price by the residual value rate by elapsed years.
Factors affecting vehicle value depreciation
The vehicle’s value is lower as the vehicle’s age and engine displacement are lower.
It usually has a depreciation rate of 10% per year. This is also why used car prices drop every year.
If you own multiple vehicles, all of them are reflected in the total asset value, but the highest vehicle value is reflected as the standard for assets such as subscriptions.
Commercial vehicles such as commercial trucks and private taxis are excluded.
If an electric vehicle was purchased with subsidy, it is reflected as the amount excluding the subsidy.
How to inquire vehicle value by use
Vehicle vehicle value is calculated based on the vehicle standard value determined by the Minister of Health and Welfare. The places where you can inquire this vehicle value are the Insurance Development Institute, the Ministry of Public Administration and Security (Hometax), automobile trade unions, and welfare roads.
Since there is a slight difference in the vehicle price for each inquiry site, it is recommended to know where it is advantageous to search according to the purpose of inquiry.
When signing a vehicle insurance contract with the Insurance Development Institute or early scrapping of an old diesel vehicle or moving into a public housing
Ministry of Public Administration and Security vehicle registration tax and national subsidies such as labor incentives
Used car market price confirmation
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Vehicle value inquiry through Insurance Development Institute
The Insurance Development Institute is the most used site to inquire about vehicle prices. It is often used when applying for a subscription. In order to inquire the vehicle value through the Insurance Development Institute, you can enter information such as the vehicle manufacturer, vehicle type, vehicle name, classification, and year.
We will guide you to the Insurance Development Institute vehicle price inquiry site so that you can quickly inquire.
>>>Go to Insurance Development Institute Vehicle Price Inquiry
Vehicle value inquiry through Insurance Development Institute
Vehicle value inquiry through Insurance Development Institute
Search Hometax vehicle price
In order to check the state support subsidy, etc., use the home tax vehicle price inquiry. Hometax data is based on data from the Ministry of Public Administration and Security. You can search simply by entering the name of the vehicle, the model number of the vehicle registration certificate, and the year of manufacture.
>>>Go to Hometax Vehicle Price Inquiry
Search Hometax vehicle price
Search Hometax vehicle price
We learned how to look up and calculate the vehicle value. As it occupies an important part of your assets, if you know where to look for it depending on the purpose, you can use it to your advantage when applying for a subscription or receiving various support funds in the future.