[Help] Need advice on what to do with my bike.

So my Ducati monster 695 has been in and out of the repair shop for a while now. To make a long story short the shop is saying its going to cost $2000 to replace the wire loom. They are offering me a trade in on a R1, but I didn't hear all the details yet. I bought it for $4500 with only 4k miles and have spent around $1500 on other problems the bike has had. I still owe $900 on it. The options I have come up with is pay the repair bill and keep the bike since I have already dropped so much into it. Trade the bike, but then I will have to start all over on payments on top of still having to pay off the $900. I can try and sell the bike for $900 and just pay it off to be done with it. Finally I can buy the loom and try to replace it myself. Are there any other options that I haven't thought of and any help would be greatly appreciated.

Edit: The loom is a $1000 and the shop is saying they might be able to get me a $1600 trade in on a new 2014 Yamaha R1 which is $14000.