vehicle dilemma

[Dandelionkid]

What would you guys do in this situation?

We have a 2005 hyundai elantra that we bought for 14900 (Canada) about 3 years ago. It's main drawback- was in an undisclosed accident before we bought it: radio has crapped out and paint is peeling (from bad body work after accident) Other than that it works well.
Because of this car's track record we had decided to drive it till it dies cause resale value would probably be pretty bad (optimistically 5000?)

My DH may be offered a new job this week with a bonus truck allowance (I think around 500/month) that he needs to use to finance a company appropriate truck. Just needs to be a certain colour and look better than the current 71 chev

I want a larger vehicle at some point to tow a currently non-existent tent-trailer and fit 4 kids and 2 adults in (#3 currently on the way, might do 4).

Do we:

1)use the 500 for a second-hand truck (maybe 8000 or less), buy skinny carseats (700+ possibly- eek!!) and keep driving our little car when the baby comes next year?

2)attempt to trade/sell our car and put that money and half of 500 allowance towards a mini-van and half of it towards a more used truck?

3) look for a more expensive truck that can hold 3 kids and 2 adults and use the truck for holidays, keep car for town, look for mini-van down the road if #4 happens? (this is probably DH's favorite option cause he gets the big truck like most of the other guys

4)anything else I am missing?

Thanks for your ideas. I should also say that we are trying to pay off debt- could be gone by next summer or fall (depending on if we can keep these payments up on maternity leave)

[kirstenb]

Is your current car paid in full? If so, I would do option one. If you buy a truck for around $8k, your payments should be well under $500. Anything left after the car expenses, I would put towards the debt. When the debt is paid off, I would set the extra aside in a special savings account for a minivan a few years in the future.

[TiredX2]

How reliable is DH's job?

I would really hesitate to go into a lot of debt for a "work truck" you aren't 100% on the job about.

[mnnice]

How big of a truck does he need for the job? If a compact truck will do (I'd get a cheaper 2WD Ranger or Tacoma) and paydown debt with the difference option 1. It would best for your cash flow and would put you in the smallest bind if this job doesn't pan out.

If he a bigger truck to haul stuff/not get stuck I'd go with option 3.

[ms.shell]

i would go for option 2. this is because i have seen the major damage done to a hyundai elantra after a very minor fender bender. (looks like the body is made of sturdy aluminum foil). i dont think those cars are safe at all. i would definitely use the opportunity to get my family into a much safer vehicle.