You WERE VERY LUCKY, indeed. Thank goodness.
With a problem that indeed causes fire and burning, I ,myself wouldn't get it repaired, if i was in a position to repair or replace, i would replace with a nice new one, with a warranty, and, also, it is less likely to have a repeat of what has happened due to the newer technology.
Nothing that "Smells" in the electrical world is cheap...
also if you do anything get a "Quote" first before you start any repair.
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