Freeze Plug

[jv262002]

I used to love my Ranger until it broke down last week. Just kidding.

Let me first say that I don't know anything about automobile mechanic stuff. I have a 99 Ford Ranger, regular cab, 3.0 L, V-6. Last week I broke down and had it towed to a shop and they told me that I blew a freeze plug out and have a blown head gasket. I would need to replace the freeze plug, the one with the wire, and also replace both head gaskets. I was told that this major repair job will cost me about $1200. I don't have that kind of money lying around.

Can anyone offer me any words of advice? I would greatly appreciate any words of wisdom. I don't have alot of money and obviously the warranty expired a long time ago. Should I go ahead and get the repair done at a shop? or, Should I try to get some friends together who are decent mechanics on their own right and attempt the repair ourselves and maybe save $300-$400?

Anyone else have this problem?