Timing belt went bye bye...question.

[numlock666]

Pulled canyon runs up and down a five mile track 3 times at over 5K rpms. My DSM held up fine the whole time, while my friends WRX got too close to the mountain and scraped a bit and my cusins RX7 oversteered and took a bashing on the bumper, im laughing as I continue to vicotry. Then on the drive home, they start pulling hard and me being N/T and all, I floor it to try to keep up and then it felt like i hit my rev limiter at full speed (126 mph on a A/T) and im like WTF? I'm only doing 70, gas it and nothing, check engine light is on and I pull over and check under the hood, smoke is comming out of the timing belt cover and theres a small crack in it. I look through the crack and only see the cam gears. So I read around in 2gnt and it looks like its probably going to cost an ass amount ($500 - $1500). I have a warranty, I'll see if they will cover it, if not, should I...

A) Fix it.
B) Buy a Talon TSI.

I'm a teen on my own and this is my only car, race and daily driver. My mom is making the payments on it, (10K -minusthe 2K down paymnet, yes ripped off)

I'm looking for a 1G Talon AWD or a 2G Talon AWD, max of about 3K if I can bum another 2K from mom -_-"

 

[nube90]

You can get to the head bolts when the cams are in but then that means youll have to cut your timingbelt cover. I would leave the manifolds on.