Sounds like you're not the guy on the Gieco commercial that's made of money...
I'd say sell it so you don't have to sweat about not having enough money. Being a new father is stressfull enough without feeling like you can't afford it. With the money you save, you can still take the boss lady out for dinner occasionally with feeling like your going to miss rent or a mortgage. Start saving for a place of your own. Once you've got food and shelter taken care of, that's when you can go out and think about buying a new toy.
BTW, having 1 extra vehicle is great for when 1 breaks down but keeping up on maintenance and repairs with more than just your own will wear on you over time, even if you don't do your own work. The older the vehicles the worse this gets.
Try to stay under 10 years and 100k miles if your getting a used car. Toyota or Honda, Manual RWD will be the cheapest to keep running in the long run. If it's the third car, your wife should be able to drive it too. For me that means auto tranny since she doesn't drive stick.
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