I have a 2002 SL1 that has had regular maintenance since I bought it used in 2004. Recently I went about 1500 miles over the 3000 limit between "checkups" and brought it in. No oil changes etc. since the last inspection. It had started "hesitating" a bit during acceleration so they checked that. The Saturn people tell me they got only a quart of oil when they drained it for oil change, no leaks found, timing chain is rattling. They think it has a burnt valve, and that my best option is to replace the engine which will cost about $2900.
I've opted to think about what I'm going to do. They tell me I will probably have to keep oil in the trunk and check it often and make sure to top it up and that eventually it will stop running and I'll have to get it towed in for the repair.
Given that I take the bus to and from work every day and put very few miles on it otherwise (a tank of gas lasts me over a month) I'd like some realistic views on what I should do at this point. The hesitation is still very slight but of course it's there. I can realistically keep putting oil in it, no problem there. But I want good solid advice on what will most likely happen, worst case and best case. Also, what exactly does a "burnt valve" mean? I'm a computer geek, not an engine geek. Pointers to graphics and descriptions on the web so I can know what the problem is would be great. Also I recognize this may very well be my fault due to neglecting to check the oil--but should it be this bad just due to that?
Thanks for your input.