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Peugeot 306 engine failure – should I repair or scrap it?

Six weeks ago I made a bad judgement and drove through deep water in my Peugeot 306 the car cut out and I’ve been told that the engine has suffered hydrostatic lock and the rods are bent. With a car of this age (I am guessing worth about £400-£600) is it worth paying a garage to replace the engine? Or should I scrap it and buy something else?

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No. When the engine fails the car is scrap.
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