Originally Posted By: hattaresguy
That makes more sense than selling a perfectly good lower mileage car that's 5 years newer.
The Scion is at the end of its depreciation cycle, with the GTI you just paid for the worst of the depreciation, keeping it for at least another 5 years will get you some mileage out of the money you already lost.
Yeah, that was the main thing that stung about the idea of selling the VW, I took the worst of the depreciation and got the least amount of value out of the car. Keeping it makes sense from that standpoint. When I purchased the car I had fully intended to drive it to at least 150k miles, if not 200k.
After doing more research and seeing just how much many of the decent options cost, what I foresee happening is that the Scion ultimately breaks in a way that makes it not worth repairing (clearly I'm speculating, it could certainly go another 200k miles), and then I go looking for something to replace it. In that scenario the Scion is nearly worthless to sell, and I'm out another $5000ish for its replacement. I believe I could get as much as $14k for my GTI, so in long run it isn't costing us too much more to keep.
Originally Posted By: Vikas
Given that Scion has any substantial resale value left, why not keep both? That way you will always have alternate transport available if one car needs to be worked on.
It could be useful to have a third car, but I think from day to day it being in the driveway and blocking either of the other two cars in the garage would probably be annoying frequently enough to diminish the value it brings.
Not only that, but factoring in just basic insurance over the long term would mean that it would probably just cost less to rent a car for the short periods of time either of the other two would be down for repairs.