Dilema with 2000 Toyota Camry 4 Cyl.....Please help!

[jandrews]

I was so happy for my car to hit the 200 000 mile marker a few months ago but the strangest thing happened to me while going to work yesterday. To start, I had been using Penzoil 5w-30 every 3-5 thousand miles. I tried to keep the oil changed frequently because one time i went to get my wheels aligned I was told that my REAR valve gasket needed to be replaced. I was told that it was about 300 bucks due to the location but normal for my car so I pressure washed the engine to remove the oil that accumulated. This has been a few years ago. That probably explains why I had to change the timing and water pump twice within 3 years. So about two months ago I decided to try something new and bought the Valvoline oil 5w-30, because it was on sale (stupid me). I figured if I changed my oil within 2500 miles i should be fine. Well two months passed and most of the oil had leaked out. When I was changing my oil I noticed that I had sludge for the first time and while i was driving to work I kept hearing a knocking sound when I had my A/C running. Last week the A/C light on the left side started blinking which I noticed a few weeks ago that would come and go. Last night it kept blinking so I turned it off. All of a sudded I smelled something burning and saw light blue smoke coming from under the hood (the same color when I saw when i used seafoam to clean my throttle but it wasnt a lot). Now im not really concerned with the A/C because I know that car is pretty old. Im more concerned with this knocking sound. My car sounds like a piece of **** now and Im wondering what can I do to remedy this problem because I like my camry. Its held me for 200 000+ miles and i would like to keep it that way. Any help would be greatly appreciated.

[BMR]

I can think of two possibilities:

#1 - The engine ran low on oil and it's toast. The knocking noise you're hearing is a main or rod bearing knocking. And the burning smell is the valve cover oil leak running down onto the exhaust and slowly burning off. Time for an engine swap or rebuild.

#2 - The burning smell was the serpentine belt burning up when the AC compressor locked up. Inspect the serpentine belt. And the knocking noise is because the oil is low again; check it.

But I'm pretty sure it's #1.

[jandrews]

Thankx ill check it out now. Now that I think about that smell it smelled like rubber. I hope its #2 and not #1. I should have fixed that rear valve gasket long time ago.

[Pvt-Public]

I didn't know the 4 cyl. had a rear VC gasket. And $300 is too much for the 4 cyl. VC gasket. The gasket set is less than $40 and the labor should only be about an hour.

[jandrews]

Yeah I thought that too that's why I never had it done but I was told at the dealership that the rear valve cover and o-ring was about 300