2023 Mercedes-Benz G 500True Cost of Ownership in South Korea
422 hp twin-turbo inline-4. Full cost breakdown including import duty (8%), VAT (10%), insurance, fuel at ₩1.55/L, maintenance, and depreciation.
Purchase Price
$172K
Base: $145K
Annual Total
$33K
Insurance + fuel + maintenance
Import Duty
$12K
8% of base price
VAT
$16K
10% applied
Annual Insurance
$1K
Avg for this country
5-Year Total
$338K
Purchase + 5yr running costs
2023 Mercedes-Benz G 500 — Full Cost Breakdown in South Korea
Every cost component from purchase to 5-year ownership. All figures in USD equivalent.
| Cost Component | Amount (USD) |
|---|---|
| Base Price (MSRP) | $145K |
| Import Duty (8%) | $12K |
| VAT / Sales Tax (10%) | $16K |
| Total Purchase Price | $172K |
| Annual Insurance | $1K |
| Annual Fuel Cost | $3K |
| Annual Maintenance | $2K |
| Annual Depreciation | $26K |
| Registration & Road Tax | $800 |
| Total Annual Running Cost | $33K |
| 5-Year Total Cost of Ownership | $338K |
| Cost Per Kilometer | $2.213 |
For informational purposes only. All figures are estimates. Not financial advice. Prices and costs may change without prior notice.
Mercedes-Benz G 500 Fuel Cost Calculator — South Korea
Adjust your annual mileage and local fuel price to calculate your exact fuel costs.
Adjust Your Usage
Annual Fuel Cost
$3,023
USD equivalent
Monthly Fuel Cost
$252
Per month average
Annual Liters Used
1,950L
At 15,000 km/yr
Cost per 100km
$20.15
13L × ₩1.55
Mercedes-Benz G 500 Depreciation Curve
The Mercedes-Benz G 500 loses approximately $67K (46%) of its value over 5 years.
Year-by-Year Value
| New | $145K | 100% |
| Year 1 | $119K | 82% |
| Year 2 | $106K | 73% |
| Year 3 | $94K | 65% |
| Year 4 | $86K | 59% |
| Year 5 | $78K | 54% |
Depreciation based on truck segment averages.
Mercedes-Benz G 500 vs. Competitors in South Korea
How does the Mercedes-Benz G 500 compare to similar cars available in South Korea?
Mercedes-Benz
G 500
Base Price
$145K
Annual Cost in South Korea
$33K
Ford
F-150
Base Price
$35K
Annual Cost in South Korea
$9K
Chevrolet
Silverado
Base Price
$34K
Annual Cost in South Korea
$8K
Toyota
Tacoma
Base Price
$30K
Annual Cost in South Korea
$8K
Annual costs estimated for South Korea market. Import duty (8%) and VAT (10%) applied to all models.
🇰🇷 Owning a Car in South Korea
Strong domestic brands keep costs lower.
Very Expensive for South Korea
Annual car costs = 104% of average South Korea income ($32K/yr)
Average Annual Income
$32K
In South Korea
Fuel Price
₩1.55/L
Gasoline dominant
Avg Car Insurance
$1K
Per year
Import Duty
8%
On vehicle value
VAT / Sales Tax
10%
Applied at purchase
Driving Side
Right-hand
Asia
Popular Car Brands in South Korea
Mercedes-Benz G 500 in South Korea — Frequently Asked Questions
Common questions about owning a Mercedes-Benz G 500 in South Korea.
The 2023 Mercedes-Benz G 500 has a base price of $145,000 USD. In South Korea, after 8% import duty and 10% VAT, the total purchase price is approximately $172,260 USD (₩172,260 KRW).
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