Bad compression results, what to do?

[M3FSQ]

Hey, i bought this 92 Talon TSI back in december. It failed its emissions test pretty badly with co2, nox, and i believe hydrocarbons was pretty close to failing as well. I spent all my money buying the car and didnt have money to immediately to get it checked out. I just got some more money and took it into a shop where they said the o2 sensor was bad and that was replaced. The car was still showing high hydrocarbons, so they ended up doing a compression test and gave me these numbers around ... 120-40-120-120. They were saying it was probably a bent valve, and that it would be around 2 grand to fix as the timing belt had notch marks and oil on it and they thought that should be replaced too. The car has like 64k miles so the timing belt should be replaced anyway. So what are my options, does the car definitly need a rebuild? or should i take it all apart and see what the actual problem is in cylinder 2. Whats the cheapest i could get this fixed for? Im in college and strapped for cash right now, so any advice helps. thanks.

 

[reeper]

thats very low compression. id be removing the head to see whats up.

also go rent a compression tester and test it yourself. maybe they gave you a low reading so you would take it there to get fixed.