Is it worth replacing the engine in a 00 Renault Scenic?

My scenic (with 66k miles on the clock) overheated and dies a death during the week. Something to do with the water pump breaking.
Mechanic just called and told me the whole engine will need replacing. He can source one for €500 but will also need to replace timing belt on it plus labour costs.
Am seriously thinking of just selling for parts and buying a smaller car anyway.
He is calling em back with a quote but at what price does it become uneconomical to fix this car? A smaller engine would save me in terms of petrol and tax etc.
I am just worried that I will get it fixed and have nothing but bother from here on in.

I know nothing about cars at all so can anyone point me in the right direction? What quote would I expect from the mechanic (independent garage) and at what figure should I just cut my losses and run?

I had a scenic and it did start giving trouble around the 60k mark. Not much mind. A 00 scenic isn't going to be worth much, no offence, and the cost of putting in a replacement engine is usually high. Although 500 euro is cheapish. If money is tight then a replacement engine is cheaper than a replacement car, no? But if you have a few bob for this occasion and are sick of the scenic then scrap it and buy another car. Best of luck!

ollie

Well, the mechanic got back to me and it'll cost about 1300 in total to get it back on the road. Tax is due next month (around 400) so it'll be the guts of 2k out of my pocket.
He can get me a scrappage value of about 500 euro so I think I'll go with that option and put another grand to it and buy a small run around.
The scenic was purchased when my daughter was younger and buggies and car seats were an issue. A smaller car would be fine now and easier on the pocket for the commute to work and tax etc.