Pretty similar situation with mine oddly enough. Belt went and did a number on the top end. Bottom end looked o.k. but I didnt want to risk it. The guy I picked it up from had it at a shop all torn down. He was already 6k into the car and had a redone head,new clutch,bunch of electrical,fuel pump,other random stuff, but still a basket case needing complete reassembly and the shop wasn't gauranteeing no bottom end damage. Wife said it would be her or the car. I found an 87 924s that the guy had just done a ton of work on, nice runner, body was pretty roasted out and interior was completely shot, think I paid 700 bucks for the car. Swapped the drivetrain into the 944. It worked out pretty well in the end.