I just got rear-ended a month ago and the total estimate for the rear bumper and repaint was $1300. The new bumper alone was $850. Not sure how much the front is but it aint cheap. Go with the repair unless you can be one of the lucky few to get one in a junkyard.
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Black E0 SVT #2239 K & N Induction/Res Replaced w/str8 pipe