Mitsubishi Repair: 1996 Mitsubishi Eclipse GS, mitsubishi eclipse gs, valve cover gasket

Question
1996 Mitsubishi Eclipse GS 5-speed, I just bought it, and it has the check engine light on. Toward the back of the motor there is a smoking, smells like oil burning.


Also there is a vibrating behind the dash and the speedometer doesnt work.


Any help, and also, how much would it cost aprx. to have the entire engine rebuilt.


Thanks

Answer
Shannon,
The first thing you should do is find out why the check engine light (CEL) is on.  If you have an AutoZone in your area, you can take your car there and they can read the codes from your car's computer for free.  Just tell them your CEL is on, and they will read the error codes.  Or, you can even check the codes yourself.  Read this site for reference:
http://www.2gnt.com/nuke/modules.php?name=Sections&op=viewarticle&artid=8

That site has a lot of great information about your car.  The speedometer cable may be broken, or your reed switch is not functioning properly.  The presents of smoke and the smell of burning oil may indicate bad valve seals, valve guides, worn piston rings, or worn head gasket.  Though it may be something as simple as a worn valve cover gasket and clogged PCV valve.

The cost of rebuilding the engine depends a lot on the price you spend on parts, labor, and the integrity head.  If you simply rebuild the head, it may cost around $400 plus labor.  If you get the bottom part of the block rebuilt as well, the price may triple.  If you are considering rebuilding the entire engine, you may want to consider buying a rebuilt engine and replacing your current engine.
Good luck!