As for the car refund, if you own your own car for a certain period of time or longer, you can receive a refund according to the repayment of the bonds purchased at the time of car registration.
You can easily check the text to find out how to inquire about the refund of the bonds purchased compulsorily when registering a car and how to receive the refund.
index
Why Car Refunds Happen
How to look up and receive your car refund 자동차 환급금
thumbnail
Car Refund Lookup 좋은뉴스
How to check the national pension I will receive in 1 minute
Local tax refund! Still haven’t received it?
Why Car Refunds Happen
When registering a car after purchasing it, the borrower is obliged to purchase ‘regional development bonds’.
Regional development bonds are issued by local governments to raise funds intended to be used for the purpose of promoting regional development projects and welfare of local residents.
Regional development bonds vary in type and ratio depending on the region where the vehicle is to be registered.
For example, after purchasing a car with an engine displacement of less than 2,000cc and costing KRW 20 million, the purchase of bonds for each region proceeds as shown in the table below.
Vehicle Registration Local Government Seoul Incheon
Types of Purchase Bonds Urban Rail Bonds Regional Development Bonds
Purchase amount of bonds KRW 2.4 million (12% of acquisition tax) KRW 800,000 (4% of acquisition tax)
Repayment of bonds purchased at the time of vehicle registration begins 5 years after purchase, and the principal has a statute of limitations of 10 years and interest of 5 years.
In other words, after 5 years of vehicle registration, you can get a refund on the repayment principal and interest on the purchased bonds.
An average of 1,350,000 won refund per person for health insurance premiums! want to get me too?
How to look up and receive your car refund
You can check the application of financial institutions (banks) for car refund inquiry.
Not all banks can inquire about refunds on automobiles, but you can inquire about refunds on purchased bonds at designated banks by region.
Refer to the following figure (table) for banks that can inquire about car refunds in each region.
refund-view-available-bank-list
Local Auto Refund Lookup Bank
Tips for watching Netflix in high definition (extra cost X)
You can search for car refunds by selecting ‘Public Bonds’ in the ‘Utilities’ category of each bank application.
Bank Application Car Refund Lookup
If you search for ‘automobile refund’ by selecting the public loan service in the mobile phone application, most of the time ‘there is no bond in possession’. message appears.
The reason why there are no bonds held is that most of them ‘immediately sell’ when registering a car.
Local development bonds are compulsory to purchase, but there are no restrictions on selling them, and most people sell bonds immediately after purchasing them because the purchase amount is burdensome. You will get a message saying ‘There are no bonds.’
If, in the case of a person who did not immediately sell the bond, the car refund amount will be inquired, and you can apply for a refund and receive the refund.
As above, we have summarized how to inquire and receive a car refund. Hope this helps.