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I'm pretty sure I have a HG failure for sure now... but I noticed that oil is getting into my coolant, and not the other way around (Coolant in oil) coz the oil still looks fine, but when taken the rad cap off, there is oily milky looking substance around the cap and top part of the rad.

As long as I keep coolant in it and make sure my coolant isn't getting into the oil, how long can I run it like this? it's my DD and I don't have the money to drop on a HG job right away...

 
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Slicer1989 Highly Sugest You use a bottle of KSeal. Safest head gasket sealer to use in any Engine around that many
Pro technitions recommend that i know of.

 
Rep Power: 223

DO NOT USE ANY SEALEANT!

Get it fixed properly, my neighbour did drive his for a long time with a blown head gasket but he was scrapping the car afterwards. (6 months back and forth to Toronto everyday)

Try to keep the driving to a minimum if possible, the parts themselves aren't expensive, but you do need to get the head checked for flatness.

 
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If the engine block is cracked it wont work. but if its a head gasket should be fine. if i had an old car and didnt have the $ to repair it asap i would use - Kseal not just another H-G sealant like most on the market it wont clog heater cores or radiaters or coolant passage ways neither like other products do Just for Your F.Y.I

 
Rep Power: 223

I doubt that.
Sealants are a band-aid solution that often cause more damage.

OP, do what you want, it's your car. But if you plan on keeping it do not use sealant.

 
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I wasn't planning on using any kind of sealant, I've never heard anything good about them.. Some work, but cause more issues later down the road than the original problem.

I'm just going to keep a very close eye on coolant / oil and drive it like a baby until I can get the parts together.