Bombing my first semester. Should I take a gap semester?

First year, first semester student here, and things are not going great. I had a shitty work ethic the whole first semester. Came in completely unprepared, lazied around skipping classes and studying very little at home, failed most of my midterms, kept lazying around instead of having a wake up call, and now that I'm doing the semester's finals I realized I should have worked harder. There were also other things going on in my personal life that were bringing me down, but it was mostly because of my sloth that I'm failing.

I should also note that I live in Spain, and apprently we go through the curriculum faster here than in the US, so falling behind is really bad, that's why I plan to start again from scratch. However, I do think engineering is my passion, and I feel like I could get it done if I actually put effort into it.

My question is, would it be a good idea to take a gap semester, get my shit together and try again next school year, or should I just bite the bullet and try to make it through the year?