Who are Daewoo?
Daewoo was a car manufacturer based in South Korea. They opened their doors in 1967 and, unfortunately, closed them in 2008 due to bankruptcy.
While there are no new models being made, you can still buy second hand Daewoo cars. Even though they may not be one of the household names here in the United Kingdom, this manufacturer has proven a smart choice for those looking for an economical work or family car.
Frequently asked questions
How much does a Daewoo cost to insure?
The Daewoo Lanos SX costs £701.54** to insure, on average. On the other hand, the Daewoo Lacetti SX will set you back around £848.55** and the Daewoo Matiz SE about £917.05.
The insurance group that your Daewoo has been placed in will play a large role in determining the cost of your car insurance. The lower the group, the cheaper the car is likely to be to insure. Daewoo cars tend to fall between group 5 and 28.
The Matiz, which falls into group 5 to 9 was published on several occasions as one of the cheapest five cars to insure in the UK. That’s why it became the staple of students and the elderly alike. It was never an enthusiast’s brand and there are no sporting models to speak of. The South Korean marque was aimed solely at the budget-conscious buyer when it arrived in the UK in 1995, but that was enough to carve its own niche and to launch a relatively successful foray on to British soil.
Daewoo has now effectively been rebranded as the car manufacturer Chevrolet, but used Daewoo cars are still a common sight. That speaks volumes for their reliability, at least.
**Average price amount based on the top five quotes from Compare the Market data from 1 March 2020 to 1 June 2020. The average is based on all variations of the vehicle model and uses risk data from people with different age ranges, addresses and driving histories. You may find a cheaper or more expensive quote based on your circumstances.
Can I cut the cost of my Daewoo car insurance?
Where can I find Daewoo car insurance?
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Looking for car insurance information on another make of car? Then be sure to stop by our manufacturers hub.