Replace engine or buy new car?

My 20 year old son owns a 1991 volvo 740 turbo. Engine blew a few weeks back. We paid about 2500 last fall for it. My question is: We found a used engine with 102,000 miles on it for $1000.00 and my brother can put it in. Should we do it, or put the grand into a newer car?

What’s the math like? Is the rest of the car in good shape so with the used engine it will go for more years? No guarantee that a new “used” car won’t blow up on you either. On the other hand, how good is the used engine?

What is the vehicle used for? Back and forth to school for 5 miles a day? Or is there a lot of driving and therefore reliability a big concern?

From a strictly economic point of view, replace the engine for $1000 unless you can replace the vehicle for $1000 with something comperable. The other variables involve how much you like that car and how much you want to buy a new car anyway. I would probably replace the engine if the rest of the car was in decent condition.

Car is in great shape, 2 sets of tires. He’ll use the car for about 20-30 miles/day. I’m not sure about purchasing an engine that I don’t know much about. I guess that’s the gamble.