Do you know that when we purchase a vehicle, local governments are obliged to purchase bonds? It is said that refunds that have not been returned due to maturity are piled up close to 2,400 billion won. Today, let’s find out about that car refund.
car refund
What is a car refund?
car refund
car refund
car refund
When we buy a car, we have to pay various types of taxes in addition to the vehicle price. However, there is a title called obligatory bonds in this. As a part of the Ministry of Public Administration and Security’s Financial Policy Division, it is mandatory to pay in the name of local development bonds when purchasing a car for use as a financial source for public works in 17 metropolitan governments and large cities with a population of more than 1 million. 자동차 환급금
To put it more simply, when local residents purchase a car of less than 2000cc, it is mandatory to purchase bonds of 4-12% of the vehicle price. ex) Daejeon 4%, Gangwon 8%, Seoul 12% 좋은뉴스
If you purchase bonds like this, the maturity is 5 years, and the statute of limitations is 10 years. When you purchase a vehicle, you, the purchaser, are simultaneously issued a bond of regional development with a maturity of 5 years. So, at maturity, you get a refund of the principal plus interest.
car refund
car refund
car refund
However, some people forget or do not know that they own bonds, and in the past, there was the hassle of having to visit the local government safe bank and apply, so they did not delay the claim, so the auto refund has reached 240 billion won.
Changes to car refunds
car refund
car refund
car refund
There are two changes made to maturing bonds and newly purchased bonds.
In the case of bonds that are due to expire soon, in the past, in order to receive a refund, you had to visit the bank and apply for a refund.
Next, in the case of newly purchased bonds, that is, those who are about to purchase a vehicle, most of them forgot that they had bonds when it was refund time, so there was a possibility that the refund would be extinguished. After improvement, you will be notified individually when the bond is due, and when the bond is due, the refund will be automatically deposited into the account you applied for.
Applying for a car refund
Auto Payback Bond Discount (TIP)
car refund
car refund
car refund
As mentioned above, local bonds that are compulsory to purchase when purchasing a car are usually referred to as automobile bonds. Because you are forcibly purchasing bonds while purchasing a vehicle, the local government attaches a small interest of 1.5% to 2%. The unfortunate thing here is that the maturity period is more than 5 years, so if you consider the inflation rate that rises every year, you may not think it is a good idea if you own it for a long time.
Since car bonds are a must-have, you must purchase them unconditionally. However, there is a method called bond discount here.
The public bond discount is a method (immediate sale) that gives the right to purchase bonds and sell them back to a financial institution for those who feel burdened by the above-mentioned automobile bonds. The downside is that you can resell it cheaper by applying a discount rate. It would be nice to refer to this method because there are people who choose to lower the initial cost when purchasing a vehicle.
car refund
car refund
car refund
Most of the application methods are processed immediately after payment of the discount fee at the bank branch located in the vehicle registration office. The discount amount is created by multiplying the discount rate of the purchase amount of the bond. If you are curious about the discount rate or refund amount, you can look it up on Auto 365.
Receive immediate bond discount refund
If you buy a car, you can find out how to get a refund after 5 years and even discounted car bonds. If you haven’t received your refund yet, you may want to check it out.