So, I've posted a few times about my oil consumption issues. I purchased my 2002 corolla s 5spd used with 167k miles on it 9 months ago and right away realized it was burning oil fast. After a few weeks I was calculating about 1 qt per 250-300 miles. I bought it on "as is" terms so what can you do. I figured I would just top the oil off for a couple of years and then scrap it for another car. Since it's still getting around 35mpg I figured, oh well, at least I'm getting decent mileage. Well... today, for the first time it is spitting oil out of the exhaust and blowing smoke every time I hit the gas.
I am afraid to even drive it now because I am assuming the oil consumption NOW is probably like 1 qt every 50-100 miles. Because my compression test came back good on all cylinders, I am assuming my valve stem seals are shot and oil is just pouring into the combustion chamber. So... where to go from here? I can buy a used 9th gen motor off ebay for $750-1k and I have a mechanic who could probably do the work for under $1k. I say screw the 8th gen motors. But then I'm another $2k sunk in a veh with now 173k miles on it and worth only $2k in good condition.
What do y'all think? Craigslist with a disclaimer, try to rebuild it myself, or swap the engine?