I wanted to update and thank everyone who replied to my post.
We took both vehicles (our old ones) to have full inspection reports to assess the cost in keeping them. The 1996 Honda Accord came back quite good. It has some things that need replacing/repairing due to the age of the vehicle, but we should be able to have everything done for around $1,500 to get it in tip top shape.
The truck came back with much more work needed, we even took it to two places for assessment and they both came back similar. It would take around $5,000 to get this one to optimal shape. About 25% parts, 75% labor.
Since we do not actually need the truck, we are selling it. DH is willing to give it up if it means saving $5k plus annual expenses.
We are keeping the 1996 Honda Accord, doing the work recommended, and hope to get many more years use out of it.
We are not buying a new vehicle!
We are hoping to recoup a bit of the money spent on the truck when we sell it, but knowing the shape it's in, we are ok with just a few hundred dollars.
Overall, we should come out significantly ahead financially since we are not buying the new vehicle. Especially when you factor in the sales tax, DMV fees, comprehensive insurance and annual registration on a new vehicle. That alone should more than make up the cost of upgrading the Honda Accord to optimal shape.
Thank you all for your votes, your replies, and your suggestions!!!