Root canal vs extraction?

I'm in a bit of a jam. I go to one of those low cost dental clinics and they quoted me a price of about $1100 for a root canal and crown. I cannot afford it and I was told that if any time during the treatment process, if I felt things were getting too pricey, I could call it off and have the tooth pulled since it's near the back of my mouth (extraction is $63). Insurance will only pay for root canals in the front teeth.

I am thinking to myself if it's worth that much to have a tooth fixed or have it pulled and I'm not entirely sure if, after extraction, I would need a bridge (it's the third tooth away from the back of my mouth; all my wisdom teeth are gone, just so you know).

Should I give the dentist a call and ask about this? I have a very limited budget (and I mean very limited). They do have a payment plan but I'm not sure if I can afford that.