I have no idea what is actually wrong with THAT car, however my experience has been, "run it with no coolant till it quits"... and the motor is toast... with the possible exception of an old rambler....but thats another story (and it never really was quite right after that) I too would find a used one, they are cheap because they run forever... $750 on the other hand... maybe where you are but here in the unenlightend garden spot of west texas, I'm driving a 245 that I bought for under $500, (of course it's far from cherry, but it's coming along) you'd have a hard time giving one away here with a bad motor.

But if everything else in real good shape, I think a motor would be a easy do and the finished product could be well worth the money, also most all of the questionable mechanic work went out of the picture when the daughter coasted noisely to the side of the road in a steaming pile...
But what do I know I had a rambler...
Bret
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rust free in west Texas