Ask yourself the following questions:
How strong is my calculus? I'm 99% sure that your calculus-based mechanics teacher is a physics teacher, not a math teacher, and he/she will require you to apply the calculus without teaching the mathematical theory. If you feel confident in computing a variety of calculus problems with ease, go for it.
How well did I do in algebra-based mechanics? Algebra-based physics is almost as hard as, if not harder, than calculus-based physics because there's a massive breadth of knowledge from thermodynamics to optics, and mechanics is only a portion of it. If you feel good about mechanics with algebra, mechanics with calculus is not much more difficult.
Of course, many schools pair calculus-based mechanics and with calculus-based E&M, the latter of which is quite brutal.