First, have some beers, and wait a day or two for that "I am sick of fixing this" feeling that overwhelms you to go away.
Now price out that new pipe. I get all mine from
https://www.1sttoyotaparts.com/
that way I am sure it is going to fit, and it all bolts in, no welding.
I have gone to all titanium bolts and nuts (with copper anti-seize) in the exhaust systems, so the fasteners NEVER corrode.
Now look at all the costs of that new car: Increased insurance, excise and sales tax, plus the car cost and the interest cost if you are financing.
And you will end up with one car instead of two. Does that mean you have to share a car? What will you do if the new car needs service or breaks down?
I do share your pain, really. Every once in a while I look at a rust spot and have the same feeling. Then I realize that the time and cost in dealing with the rust spot is trivial compared to how long I have to work to make the money (AFTER tax mind you) to get a different car.
A new car will have its own problems.
Add up all the taxes you pay on your income, plus the extra taxes on a new car, and it does change the perspective.
Thinking of selling "lucky" toyota
I'm kinda beside myself today, I have this nice truck that gets great mileage, but now it has a loud exhaust leak around the O2 sensor midway back. I goes to look under it, and then I realize that I'll probably need a complete pipe front to back. Also, I still have to beef up the passenger side of the frame. The truck runs great, uses no oil, and just needs a lot of TLC. 
It's probably a good bet that there isn't much bargaining for a small car these days, but I'm just so tired of fixin stuff.... BTW, I saw an '89 Metro on a lot today going for $4,000! rusty too!
Every dollar I save, .....I save!
