hello wonder if anyone can help here.

over weekend car started making nasty noise and then when i pulled over it cutout. Recovery man thought tappetts but local mechanic (seems very good) says and i quote 'timing belt slipping like hell'. Question is, is it worth trying a new belt and kit and fingers crossed for no valve damage - was driving at about thirty up hill so pulling 2,.5 k to 3 k revs i guess - or just getting a second hand engine fitted. been quoted £160 to do the belt and kit and £150 to do the engine with a quote of £210 for thengine itself from a breakers.

What are the chances of valve damage from a slipping/loose belt? Should i just say do the engine? is it likely to be cheaper to count the valves? When he cranked the engine the mechanic said it was chuffing a bit so am kind of hoping there's still compression (or whatever).

thanks