I am looking to buy a 2000 Montero for the asking price of $1500 with 247k miles. The owner states: We spent well over $1000 last year getting all belts replaced, brake pads changed, tune up, etc. The one problem that is most notable, is that there is either an oil leak somewhere or it simply burns oil quickly. I have to add 2 qts of oil typically every three weeks to a month. If you know someone who works on cars, this probably wouldn't be a major repair. It occasionally smokes from the muffler, but only when you stop and then go again.
Does this sound like valve seals or something more like rings? I am trying to figure the cost of the repairs. I have a 2001 Montero and I'm ok with doing the work myself. I'd like to hear from others experiences.