For younger, more active people, repair is definitely considered preferable to removal. While they are in there, they can look at the cruxiate ligaments and a decision can be made regarding what to do. If the ligament is not torn, but is stretched, there is a fairly new procedure called thermal shrinking. From a review of articles, it appears to be effective, but the effects are variable and not predictable. Now we're talking the big deal, major rehab process.
Some doctors like to use patellar tendons and some use hamstrings tendons.
All three have their own risks and benefits. The big advantage of your own tissue is, well, it's you. Your body will accept it easily. Another advantage is that the autograft tendons seem to hold up longer without stretching. However there is more pain and a greater risk of infection because of having to essentially do two surgeries.