Chevy Lumina camshaft

I've had a '98 Chevy Lumina (my adult car after I earned my Bachelors) for over a year. I got a very good deal for it, paying about $3500 for it, title and all. A week later, of course, I had a wreck and had to pay for minor reparis and slightly more body work. However, the car has been acting fine for about a year.

Last Friday, while driving home, the oil light came on and the car quit. One subsequent attempts to crank up, the engine would turn over but run rough and quit.

The mechanic called me today and said the camshaft had broken, and he would have to take the engine out, replace the camshaft, and replace the oil pump. I didn't know to ask if the break was clean or not. He told me a rough estimate would be about $1400 or more.

So, I have two questions. First, does the mechanic sound legit? Second, is fixing the car worth it or should I just look around for another car and sell the Lumina for however much it is worth. Money is an issue, though my husband and I can always borrow from our parents.

The car has been good for the past year, so I hate to give it up, but I would also hate to only begin the first of many expensive repairs.

Thank you,

ada35