Hyundai Capital Launches Korea's First Used Car Consulting Service Based on Vehicle License Plate Numbers

'Used Car Purchase Checklist' Opened
Machine Learning AI Verifies Actual Listings and Provides Fair Vehicle Prices at Once

[Asia Economy Reporter Ki Ha-young] Hyundai Capital announced on the 28th that it will launch Korea's first used car consulting service based on vehicle license plate numbers called 'Check Before Buying a Used Car.'

This service provides information such as appropriate used car market prices, actual transaction data, and recommendations for listings with similar conditions based on the vehicle number entered by the customer.

First, based on the used car price algorithm developed in 2018 through a collaboration between Hyundai Capital and Seoul National University, AI automatically determines whether the price of the vehicle checked by the customer falls within an appropriate range categorized as 'Safe, High, Low.' Along with this, it provides a report analyzing various factors affecting the used car price of the specific model to assist customer decision-making.

Additionally, it offers actual listing information for about 300,000 vehicles currently traded at used car dealerships nationwide, helping to prevent customer damage caused by false listings in advance. The vehicle sale status is also updated in real-time, further enhancing customer trust in the registered listing information.

Moreover, this service provides actual transaction information for the same model as the vehicle checked by the customer, along with AI-predicted expected prices three years into the future to support rational customer choices. It also offers information on other listings of the same model as the vehicle checked. Through this, customers can easily apply for used car financing products via mobile after checking detailed vehicle information and estimated monthly payments.

A Hyundai Capital representative said, "We have gathered all the useful information customers should know before purchasing a used car in one place with Check," adding, "We hope Check will help alleviate some of the anxiety about buying a used car and assist in making more rational used car purchases."

The 'Check Before Buying a Used Car' service provided by Hyundai Capital is available through a mobile webpage.

This content was produced with the assistance of AI translation services.