Camera is beyond economical repair

My camera is beyond econimical repair. Internal corrosion caused by the water seepage proved fatal. It can be repaired but it costs more than 300bucks which makes it rather senseless to get it repaired. Moreover there is only a 6 months warranty to it so they advised me to get a brand new one instead. Now comes the catchy part. I was offered 400bucks for a brand new model which Olympus offered me. It is slightly newer than the damaged one but I have yet to see how it looks like. In fact, I think I might want to speak to them if they can give me a better solution than just getting me to purchase a new camera knowing fully well that they will always get a better deal. So much for being a consumer...