Don't sent to the wrecker. Here at least they command some money even in trashed shape.Sell to some kid with a dream of slapping in a SR20DET motor. Either that or buy a good stock motor from someone swapping his out. They can be had super cheap. Depends how much work you want to do.
When I was in Calgary this passed March it seemed that there were many, many more older cars such as the 240, Supras, 300zs and the like on the roads than I see here in Toronto. Our winters are very hard on cars. Mine lived a particularly hard life in the last few years as it was parked in a warm parking garage where the salty slush would melt on the undercarriage of the car every night during the winter. The effects of that can be seen in the pictures below. I'm sure there's some kid out there that would be willing to take my 240 even in it's current state and put in an SR20DET, but I think it would be even more stupid on my part to sell it to some kid than it would be for him to buy it.
This repair isn't even that bad but the cost to have it fixed is a bit more than I paid for the car. And I can't do the work myself so any more breakdowns will be more $$$ out of my pocket, and there are plenty of things that could go wrong at any time. I was sort of gambling that I could get 6 months or a bit more use from it without a big bill before it was done, but as it happens I got 5 weeks use and now it's all used up. The deciding factor isn't so much the cost of this repair but the fact that it could break down again anytime and then I'd be halfway down a money pit. As it stands now I can probably sell the steelies and winter tires on Craigslist and almost break even on owning the 240. As I said earlier it's easy come, easy go.
If I could do the repairs myself then it would be a different story. I wish I could do it myself but I have zero experience and for the foreseeable future I don't have the time to learn by trial and error.
EDIT: Oops, I forgot to attach the pictures. The top of the car is green, but the bottom is brown. The hole in the rocker panel is big enough for me to reach my hand up inside the body panels.