New to the Game

New to the game and need some advice

I've an Audi A4 1999 1.6l (145000)
Bought the car under a year ago with a full service history
Had alot of miles up but used to run like a dream

One day coming home from work, i started to lose the power
Thinking it was a spark plug or coil problem I brought it to a mechanic
He told me it was the second cyclinder, it had no compression.
His solution, a new or replacement engine and parting with 2000 euro the wrong side of Xmass.

Is there anything I can do or is the car on its way to the car park in the sky?

Any advise or suggests welcome