I jumped in the GTI after my shift at UPS and started home. White smoke something fierce till the motor warmed up.....
Though to be honest, I don't really understand why you just don't take care of what you have already. It's a DD and problems will happen when you're under the gun. If you ignore it, it will leave you stalled in the middle of a busy intersection in the rain while you're already late for work. Water leaking is probably radiator or hoses, a piece of cake to check out. You mentioned "puddles"; oil, tranny, other? The alt light means you're alt isn't putting out full juice and you need to replace it. Maintenance is a pretty standard need...
That's a GREAT question and a valid point. To answer it, I build up Scouts. Having built many of them, I know that there are some things you do once, and some you do over and over. Some will do a simple mod, then wish they would have done something else. Some scouts, see many versions.
That said. this car was bought for $600. I've done a lot of work to it already. Its always leaked oil and there is some funk in it. I'd like to keep the car, but have some plans for it well beyond what it looks like now. I've sold my truck, and this is my only ride (other than a rusty scout at my bro's).
This is a 'what the heck' scenario. It would be quite easy to simply fix the current motors problems and go ~ just like you said. But long-term, where is this GTI going? Goodness knows how much money has been spent on things we ended up not liking. With the car being in this condition, and my wife prepared for at least a little expenditure on its behalf, I figure the time is right to give the old GTI a little boost in the right direction.
My goal here is to do something that won't have to be re-done. First, I built what I pictured, a decent GTI. Suspension is taken care of, but what about the powertrain. I'd like to do something that will last long-term.