March is a good month to buy a new car for people who plan to do so this year as the five Korean automakers carry out massive clearance sales. The reason is that sales in February were disappointing across the board.
Hyundai continues its W1.5-million discount from last month for the Sonata Hybrid. Those buying an older version will get W2 million off, and those buying and older version of the Grandeur W1.5 million.
The country's biggest carmaker is also offering W500,000 off the Avante Hybrid or i40. Customers who got a new job, got married, just obtained a driver's license, or whose child is starting school or university, can get a W100,000 discount on the Veloster, i30, i40, and Avante.
Kia is offering a 10 percent discount on the Forte Hybrid, W1.5 million on the K5 Hybrid, and W500,000 on the K5 gasoline model.
GM Korea celebrates the second anniversary of the launch of the Chevrolet brand here by offering a low 1.9 percent interest rate on a car loan. With a downpayment of just W100,000, customers can buy the Spark, Aveo, Cruze, Orlando, Captiva, or Alpheon on an installment plan.
But after the first year, the normal interest rate of 6.1 percent will apply.
Those who either got married or had a baby since Jan. 1, 2012, can get an additional W200,000 discount on the Cruze, Malibu, Alpheon, Orlando, Captiva and Trax.
Renault Samsung is offering a W1.2 million discount on the QM5 gasoline model for lump-sum purchases. All other cars will be subject to a W200,000 discount.
Ssangyong is giving customers a W200,000 discount in celebration of the second anniversary of the launch of the Korando C, as well as free accessories.