The cheapest way out is still to fix what you have. But- you have to plan it carefully for it to stay the cheapest way out. If it needs, or will need in the future, suspension and transmission repairs as well, then perhaps yes you should let it go. Adding those repairs to the list would put it beyond economic feasibility for me.
Sounds like even though you love the car and it has been a good one, you just might be bored with it and want a different car. Can't fault anyone for that. Good luck

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'02 BMW 325i
'85 300D 450k
'93 190E 2.6 170k(killed by tree)
'08 Ducati Hypermotard 1100S 6k
'06 Ducati S2R800 14k(sold)