No Reverse Grand Am 1986

Grand Am 1986. When applying the gas it just stopped running, and then there was a grinding sound whenever it was in gear. I could drive it home, but only at 20 mph. When I tried to park it there was no reverse at all. The mechanic says there is metal in the fluid, and he has to rebuild. Any body think of another way around this? He wants 2000.00 to do the job, Heck the car is not worth that much, but it is almost paid off. Thanks