Bummer. I don't know about costs for repair but I can tell you that I own a 73 drifter that I bought with trailor for $500 about 1-1/2 years ago. I Got a good deal on it but it may still be cheaper for you to buy a used boat. I put a few hundred dollars into "stuff" and lots of elbow grease into it. Pretty good old fishing boat now. Good Luck.