Not the OP, but I am hoping someone can help me think through my options. Family of four. We have a 2014 Jetta TDI that we financed (yes, pre-MMM, but at least at 0.9%), and we have about $8K left to pay. I use the car for daily commuting, about 16 miles to downtown DC (for various reasons, this is not something we can change). Mileage, safety, and reliability are my biggest concerns.
We plan to take the buyback immediately and get something cheaper. We will get $25,216 in the settlement, so that's about $17,216 left after paying off the car loan. Options for a replacement include a CPO Prius Plug-In, which I have found with about 20,000 miles for as little as $16,680, or a new gas-powered Jetta, which I have found for about $13,000 and includes two years of "free" service. There also may be additional VW loyalty incentives. An older, cheaper, high mileage car won't work as I am concerned about reliability, plus we are totally incapable of doing repairs ourselves. A Honda Fit is not an option given the size and safety ratings.
Our other car is a 2009 VW Routan, paid in full and with low mileage. But it's a VW, and given the age I fear that expensive repairs are right around the corner. The driver's side door handle has already broken, and we were quoted more than $1000 to repair (we're using duct tape for the time being). I suspect we will need to replace this car in the next two years to get something much more fuel efficient.
Mustachians, WWYD?