I just bought a 2010 Toyota, and I can already tell it’s ready for replacement -
ID: 1110820 • Letter: I
Question
I just bought a 2010 Toyota, and I can already tell it’s ready for replacement -- it has a max of 2 more years to run. I just paid $15,000 for it, and it’ll take $3,000 a year in maintenance to keep it running. I know a guy who will sell me a Prius anytime with an AW of $-10,000. If the salvage value on my Toyota is $10,000 and declining by $3,000 per year, with interest rates at 5%, when should I get the replacement Toyota?
Question 1 options:
Right now
After this year
When I have to, after next year
Save
Right now
After this year
When I have to, after next year
Explanation / Answer
You should get the replacement of toyota right now or it's value will decline.
RIGHT NOW.