Finding myself at an automotive crossroads. Grab a beer.
The cars:
-I've owned my '90 Camaro for 18 years. Garaged.
-I daily my '14 5.0 all year and it's great. 5.0 is dead solid reliable, been the best car I've ever owned. Not paid off, owe around $17k. This car sits outside.
-Wife drives '12 Beetle, paid off. Garaged (gotta give the wife a spot).
The situation:
-In our early thirties, kids in 2-3 years.
-Beetle is staying until the last possible second since it's paid off, then it will need to be replaced with a family hauler for her when kid is born.
-We will both need family haulers when we have kids due to different work schedules.
The "problem":
-I knew I couldn't keep the Mustang forever when I bought it for the above reasons.
-I don't particularly want to be on the front end of two car loans at the same time, with a new kid.
The idea:
-Get family hauler for me sooner than later, to stagger car loans and to get it paid down or close to paid off by the time we must get my wife a family hauler.
-While I could keep paying on the Mustang as long as possible and hold out til the end and have a larger down payment for a family hauler, there's also the reality that the Mustang will still depreciate over the next few years, so it might actually be more expensive to hold it in the end.
The options:
1) Keep Camaro, buy cheapish new car. I like nearly nothing sub-$40k, with almost no exceptions. Yet, I keep looking at Passat R-lines with the lighting package. I know the NMS Passat is a maligned car nobody likes (big and cheap etc) but it actually looks good in R-line trim. Looks expensive, nice fit and finish, and not worried about ownership costs. Extremely practical and just makes a ton of sense. Stickers for around $26.5k, can be had for under $22k with no negotiating - being that I owe $17k on the Mustang and have a little positive equity, I'm not really setting myself back much on total debt. Rare that there's something in that price range I actually like that I would actually consider owning. I drove one, it is ho hum, but it's quiet, comfortable, and had more passing power than expected. 3 years from now there might be nothing I like in that price range. Passat would have to sit outside.
2) Sell both Mustang and Camaro, buy something nice around $40kish for a daily. Garage it.
3) Sell both Mustang and Camaro, buy cheap Passat. Garage it. Feel very financially savvy about my super adult choice to sell both toys AND buy cheap car.
4) Sell both Mustang and Camaro, take Camaro proceeds to buy used Japanese daily and buy a brand new muscle car to be a garage queen toy. Probably least likely and ultimately most expensive option.
Here's the issue with the Camaro. It's my first car, clean as hell, second owner, real head turner. Would probably regret selling. But I drive it maybe 500 miles a year. Just no time or desire. The other issue is it just isn't fun to drive. Maybe the biggest issue though is that as someone who likes 1000 point show cars, it can never be one due to lack of parts availability (fresh factory seat fabrics, etc). I can spend $10k on a paintjob, but then what? Interior is in great shape but not as nice as a 5k mile original, and it makes no sense to do a stock mechanical rebuild, but modding doesn't make sense either - gen I small blocks, while period correct, are almost too crude for that car and the one or two high performance injection systems aren't great and run out of steam at 4500 RPM. Gen II or newer (LSX etc) might look cool when that's the hot generation, but quickly look dated (think of all the '90s LT1 swaps and how junky those seem now). Basically I don't know what to do with the car if I keep it, and can really only keep it as a turn key cruiser. Which isn't necessarily bad, but I just don't know what to do with it if I keep it.
I think I'd regret selling it, and I've thought of selling it for years and never do. But I think about it too much, to where deep down I know what the answer is. I kind of want my garage space back also (not enough height for a four post and I'm not paying for storage again for the Camaro, did that for years through college and living in Japan and living in apartments here when we came back). At some point I won't want to bring a new car home again and park it outside. Ultimately I kind of just want to simplify my life. Less cars, less maintenance, less detailing, less insurance, etc.
Thoughts?
I mean hey, this isn't a bad looking car for $22k, would get in white or blue over black with lighting and a lip spoiler (only real options). Downside is open differential (winter), no traction control button, and weird tire size (235/40/19) so I'd have to find some other brand of snow tires than Nokians. But good looking car for a great price, good safety ratings too (IIHS top pick):