Engine Swap or New Car?

[Vroomin'vag]

Alright so the other day at school, my car wouldnt start. So i had it towed to the nearest shop, and they have had it since thursday. They told me that the timing belt slipped. When i talked to him, he told me that there was probably some severe damage, and i would probably need a new motor, because it would be cheaper than rebuilding the head. So he has had it for 4 days, and I have had days to think. My parents are saying that i should probably just junk it and get a new car, but i love that car so much. So i pretty much have 3 options. First, which i want to do the most, would be to buy a beater for now, and take my car home, and swap the engine myself. Just have it as like a project car. The only problem is that im going to college next year, and I dont know if I will have the time to do this. The next most probable option would be just to buy a new car. The problem with this is, that I want an F-Body, and the parents aren't too happy about that. I would want an LS1, but thats quite a bit of money for a 17 year old who makes $6.65/hr. Finally, the Third option would be just to have the shop do whatever it takes, and pay it. I was just looking for some insight to what you guys all think sounds most reasonable. All opinions are greatly appreciated. Thanx guys.

 

[SpeedFreak03]

I can narrow it down to two options for you: swap it yourself or just get a new car. You will learn SO much from doing an engine swap, and since you are short on cash you will save tons of money. I think you can pick up a JDM 6-bolt for around $1000. I'm sure you can pick up a used head somewhere tho...you probably bent valves.

 

[ECLIPSE95]

I totally blew my timing belt on my N/T eclipse and it really cost me though..about 1,400 bucks and I didn't have my car for like almost 3weeks but I got a practially rebuilt head that was taken to a machine shop and 4 of my intake valves where bent and those were replaced and a new water pump and belts and I think a pulley was replaced too...which 1,400 wasn't too bad but I wouldn't know how much it would cost to fix a head on a 4G63 though..but if you thinking about selling your car..I may buy it

 

[unlikely hero]

You prob just need a new head which isn't very hard to replace. Go look on ebay thats what I'm going to have to do. My timing slipped and I bent all of my intake valves. You're looking around around 200/300 for the complete head and another 100/200 for just spare parts.
=Jason-

 

[RoasT BeeF]

Agreed. You do NOT need a whole new engine. I say pull the head off yourself and have it rebuilt at a machine shop.