Ford Repair: 1996 Ford Probe, inner components, cylinder motor


Question
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Followup To
Question -
Hi there!
I just purchased a 1996 Ford Probe SE with the 4 cylinder motor, and a 5 speed manual. This car has just over 104,000 miles. I test drove it extensivly, and it had no problems. Now, two hundred miles later, I have a significant oil leak that seems to be coming from the midsection of the back of the motor. The oil pan itself does not appear to be the problem, as the oil originates from above. However, I am not sure what to do next. I used all my money from my tax returns to buy what what supposed to be a "reliable" vehicle, and I'm afraid that now I'm going to lose my job if I can't afford to get this problem fixed. (I work 20 miles away from where I live) Second question is, can I drive it even though it is leaking oil, as long as I maintain the oil level in the engine? Will this harm the inner components of the engine with a leak involved? As it stands right now, the undercarriage has quite a layer of fresh oil, but the dipstick measures full. The only indication of a problem was initially just the smell of burning oil. But after jacking up the car, getting under it, and inspecting it with my very limited knowledge, I think it is serious.
Thanks in advance for any help you can provide,
Justin
Answer -
Hello and thanks for the question...I'll try to help.
 As long as the oil level is at the proper level, it should be fine to drive. I would suggest that you DO find and repair the leak ASAP.
Is it a constant drip or stream of oil leaking out?
Hope this helps,
Erik
Hiya Erik,
It appears to be just a drip at this time. There is a puddle on the ground where I park the car, but after driving a ways, the engine starts to smell and smoke can be seen coming from under the hood when stopped at a stop light. Would putting in a product like No-Leak, or Stop Leak help? I have heard both good and bad stories with using it, whats the truth?
Thanks again,
Justin

Answer
Hello and thanks for the reply...I'll try to help.
 While system sealers are an Ok thing, I don't like to use them in engine oil systems. After a while, and repeated use, a varnish forms, which can also increase sludge build up. If you really need to have the car, I would get it fixed, ASAP. You can go to a parts store and buy some engine dye and a black light kit. It's about 3.5 Oz. of fluid. Add it to your oil and start the engine. After a while, look around with the black light. You should be able to easily see where the leak is starting from and make the needed repairs.
Hope this helps,
Erik