My current car "dilemma". Seeking advice.

As there are many well educated, car savvy, and generally level-headed people on this forum (erm, wait a minute! The words "Ferrari" and "level-headed" usually don't go together, do they? ) I figured this would be a good place to ask this. This is a bit long, but here's the gist:

Currently I own a '92 Mitsubishi Galant VR-4 (basically the predicessor to the Lancer Evo) with about 73k on the clock. As of right now it's off the street needing some maintenence to get it back on the road & running. I had a somewhat reputable local DSM (Diamond Star Motors = Eclipse/Talon/Laser) guy check it out a while back and got a general estimate of what it would require to get it back in running shape. I chose not to do it at that time as I returned to school and needed the money then for something else (school stuff, ya know ). Since it's paid off I put it up for sale and did get a few low ball offers, but nothing serious enough to consider so I just figured I'd keep it around until I have the time/money to fix it. Well, now I'm at a point where I'm going to need a new vehicle to replace the Ford Contour (yeah, I know I know ) I'm dd'ing currently as it's getting up there in miles (130k plus) and they aren't known to be super reliable as it is.

Anyway, what it comes down to is this: Should I go ahead and fix up the ol' GVR-4 or go for something newer? I've been shopping around and test driving some vehicles lately and have really narrowed it down to either a '98 Jeep Grand Cherokee 5.9 Limited or a '99 Isuzu VehiCROSS (found one locally for a great deal & it's what I'd ideally like regardless of price; I'm only considering it because of the deal though; low miles and great price). I've researched both VERY thoroughly so I know the pros/cons of each pretty well. I know that fixing up the GVR-4 will cost notably less than either of the other choices & in itself is a totally different vehicle than the other two (I mountain bike a lot thus why I'm looking into SUV's plus I'm a pretty big guy at 6'5" so I just fit better). No matter what I'll have to take out a loan one way or another and should have no problem paying for it in any case, but will definitely sell the GVR-4 if I go for something else. Just wondering what you folks think my best course of action would be. Thanks in advance & sorry for such a long post...

 

I'm sorry I should've included a bit more info about the situation. Basically, it would run roughly $2-4k to get the GVR-4 up and going (including labor; unfortunately I don't have the garage space to do it myself otherwise I would fix it on my own no problem). As far as getting another vehicle we're looking to spend up to $10k maybe (depending on the vehicle/condition/mileage, et cetera). I'd love to keep the Galant as it's rare (1 of 1,000), fun (turbo & awd ), and surprisingly practical (4 doors), but it's a '92 so technically it's getting old despite the low mileage (73k). I'm going to check out the VehiCROSS again tomorrow since it's not far away & hopefully will get a good deal on it if the dealership is willing to work with us (they've had it in stock for quite a while) so we might pick it up if the price is right and whatnot, but who knows....