A leakdown test would tell you for sure but since you don't know the history of the car, you might try pulling the valve cover off and checking to see if either 1) a valve is adjusted too tight or 2) not closing all the way even though there's clearance at the rocker arm. There have been reports of cars sitting for long periods and the valves sticking open. Some WD-40 and judicious use of a plastic mallet has got them closed again.

 

Another test you can try is to put about a tablespoon of oil into the cylinder then attach the compression tester. See if the compression drastically increases indicating the rings.

A leakdown test would be more definitive. Here is a good video on how to do this test.

 

You can determine if the leak is head gasket or valve by injecting air into the cylinder and listening for leak (leak-down testing); leak in exhaust or intake indicates valve damage, bubbles in coolant indicate head gasket damage.

See video by richpin06a for leak-down testing details.

Alternatively, you could simply pull head and be prepared to have head repaired if necessary (about $250 in Houston). Head should be shaved to insure a good head gasket seal at minimum.

good luck

 

I dont have a tester but I did shoot some air in the cylinder. Didnt see any bubbles but I do see what is probably oil in the water. A little sludge around the cap opening. I guess I got the thing too hot and warped the head.. what a drag
I have to do everything I just did twice again. What a christmas present. I guess I will let you how it turnes out. One thing for sure, I have learned quite a bit about how thing operates already...

 

Gentelmen I am back with another question please. after looking at this thing, I am definatly getting some oil in the radiator and I can see oil at the bottom of the heade and top of the block below the distributer. I have the money to replace the head gasket but I do not have the money for a new head if it is cracked.. i only need to drive this car for another 2 months. so I am wondering what my odds are that I can resurface the head and put a gasket on it. it is running now and I am scared to pull the head and not have the money to fix it right now. I even thought of putting some of thea head gasket sealer in it. I know nobody will agree with that but a friend of mine and I put it in his truck and it worked for six months till he got rid of the truck. I need some advice on what to do at this point.

 

If oil in the coolant is not bad, I would simply keep driving for 2 months. Note, this may affect trade-in or sales price on the vehicle.

Odds are good your head is repairable by machining, if warped from overheating. Simply shaving the head greatly increases probability of a good head gasket job. If your valves are not leaking, you should get by fairly cheaply.

good luck

 

I drove the car today. Of course it runs like crap will not idle. Anyway this is before I added any stop leak or anything else. It wasn't doing this yesterday either. But today it started smoking real bad and went through a at of oil in prolly 15 miles. So I pulled all the plugs the breather tube and rad cap. Pumped 100 lbs of air into #4 and I could hear the air coming from #3 cyl. Nowhere else.

 

Bad head gasket. The head should be removed & checked for flatness. Machine shops don't charge much to just shave the head. Last I checked it was $50 or so. An alternative would be to buy a junkyard head for about the same $$$. Just be sure to have a machine shop check it for flatness before you put it on.

 

Agree w/ Roader.

If you're very thrifty, then following video may appeal. Otherwise you'll have to pay for service. You do have to have a strong, thick glass tabletop.

good luck