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It's actually only about $25 in parts according to the Lionel site (possibly a little more, but hard to tell based on the photo). If you're handy you could purchase the parts and fix it yourself. If not, you might be able to find a service station that would be able to repair it for the cost of parts & labor.

Lionel parts breakdown:

https://www.lionelsupport.com/Repla...roductID=FD86102D-3005-4961-9BB2-981389E95417
 
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