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Should I replace the head gaskets or replace the engine? — On a 2001 Ford Explorer Sport Trac w/ 230,000miles?

Should I replace the head gaskets or replace the engine? — On a 2001 Ford Explorer Sport Trac w/ 230,000miles?

I have a 2001 Ford Explorer Sport Trac pickup with 230,000 miles which was just diagnosed to have a cracked head gasket (or two.. probably two). While I have done plenty of basic automotive work in the past, I have never had to solve such an issue, and I’m not sure which repair procedure to pursue, and that is why I need your help:
–Should I take apart the engine and replace the head gaskets (as well as anything else that may be warped, cracked, or damaged), or should I just drop a new used engine with 105,000 miles into it?

Online quotes put me at $1,000-$1,500 for head gasket replacements, but my buddy’s shop wants $2,000 because they anticipate more wrong once they get down in there. As for as swapping engines, I found one with 105,000 miles for $1,000 (w/ 1 yr parts warranty). But swapping the engine is not as simple as the straight drop I thought it would be, because they also have to swap all the electronics from the old engine to the new. Thanks to mech/elec labor fees, putting in another engine would easily surpass the cost of replacing the head gaskets…
–If I replace the head gaskets, who knows what else could go wrong on this engine with 230,000… But if I swap out engines, how long before the transmission or something else goes? And how much will that cost then?
–What are your thoughts? Any experience in this situation or with this particular vehicle? Any and all advice will gladly be appreciated, thanks so much! Have a great week and happy holidays!

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