Hey Scotty, I have a 92 Carlos Sainz edition ST185 Toyota Celica, but the engine is worn out. Is the engine worth rebuilding or should i chuck it and put a new engine in it?

put one of those used japanes engines in it, they are the best bang for your buck

If there's nothing special about the engine, then just do as Scotty says, search online for a company that sells used JDM engines that come from Japan with low miles, because over there, tax rates and emission/inspection standards up until very recently have forced many over in Japan to buy new cars.