The customs value of non-exempt used cars imported for personal use  shall be determined in accordance with the following principles:The customs value of non-exempt used cars imported for personal use  shall be determined in accordance with the Articles 12 through 12-6 of the Customs Act (Editor's Note: now Articles 29 through 35). Where the customs value is determined pursuant to Article 12-6 of the Customs Act (Editor's Note: now Article 35), the customs value shall be determined by deducting depreciation, calculated based on the model year, from such FOB price of the new cars or identical or similar new cars, and adding freight and insurance.Alternatively, it shall be determined based on the prevailing market price of used cars in the exporting country, and adding freight and insurance.In addition, the depreciation rates for used cars imported for personal use shall be determined and adjusted by the Customs authority ex officio at its discretion, taking into account actual commercial conditions.