I think you should assess the feasibility and fun factor of this trip with your kids at their ages by how tolerant they are of long car rides. Iceland is amazing, but almost everyone will tell you to get out of the city and go on either day tours OR go driving through the country by yourselves on an extended road trip. If your kids are the type to tolerate long bus/car rides to get to their destinations, then fine. Or, if they are the type to actually even be able to enjoy those as PART of the trip, i.e. they can look out the window and enjoy the extraordinary beauty of the country, talk about what they're seeing, etc. That's how I was as a kid and I always enjoyed "the journey" as much as "getting there." My kid is the exact opposite of that and she's almost 12. Maybe it's being a city kid, where she can get almost anywhere she wants in 30 min or less, but she DESPISES long drives and cannot for the life of her enjoy scenery, etc. She's impatient to get where she's going. Car rides are to be slept through or she buries herself in electronics. She was whining and miserable at 9 when we took her to Iceland. I wish I had waited to take her. She frankly ruined my trip.