Mercedes C-Class for 100 won? K Car launches 'Big Festa' promotion

K Car, South Korea's largest directly operated used-car platform run by KG Mobility Platform, announced Wednesday it will hold its "K Car Big Festa" promotion through Nov. 5 to celebrate joining the KG Group family, offering used vehicles at special prices with a range of purchase benefits.

The highlight of the event is a raffle giving one winner the chance to buy a Mercedes-Benz C-Class Cabriolet — normally priced at 32.8 million won ($24,400) — for just 100 won. The Hyundai The New Casper and KGM The New Torres will also be available at 50 percent off their regular prices of 19.7 million won and 24.2 million won, bringing them down to 9.85 million won and 12.1 million won, respectively.

K Car members can enter the Casper half-price raffle simply by logging in. Sharing the event three times via KakaoTalk qualifies members for the Torres half-price draw, while sharing it five times enters them into the Mercedes C-Class 100-won raffle. Winners will be selected by lottery and announced Nov. 12 through K Car's official website.

Prize benefits are non-transferable and apply only to the winner. Concessions — including acquisition tax, insurance premiums, and transfer and administrative fees — are the winner's responsibility. Eligible vehicles and event details are subject to change or early termination depending on company circumstances; full details are available on the website.

K Car has also prepared a range of purchase perks, including a six-month free warranty, free delivery and special discounts. Customers who sign a large-vehicle contract through K Car Rent will receive a free at-home maintenance visit, and customers who complete a transaction through the platform's peer-to-peer service will receive a Hollys Coffee gift voucher.

"We will continue to provide benefits that customers can truly feel and a trustworthy used-car buying experience," said Jung In-kook, chief executive of KG Mobility Platform.

Meanwhile, K Car's regular car auction series "Weekly Auction" recently held its 1,000th session.

Since its first auction in March 2011, the Weekly Auction has seen a cumulative 617,000 vehicles entered. Of those, 436,000 were sold, for an average acceptance rate of 70.7 percent. Over the past three years, the average number of vehicles entered and sold per session has been 1,317 and 994, respectively. Both gross profit and operating profit have grown at a compound annual growth rate exceeding 30 percent over the past decade.