I have a 1994 Cobra I've owned since 2001, second owner and 134,000. At first I had to add a quart of oil every 1500 miles. Now it's down to less than 500. Nothing out the tail pipes or on the garage floor. Any ideas?

 

you could still be burning oil without seeing smoke, with that many miles gaskets on the valve covers (esp if they are aftermarket) could be worn away causing that problem. there are a few different reasons but that could be one

 

I am losing fluid from the rear differential, where the drive train delivers power to the rear wheels. How much would this repair cost?

 

Transmission fluid? what color is it?

 

It isn't tranny fluid, the color is clear, almost like motor oil but thicker, and it is dripping from the differential. Is this one of those real expensive repairs?

 

is it the rear cover gasket that is leaking? that should be fairly cheap..

 

Got my problem fixed, cost was $185, most of which was laber

 

I would check the valve seals in the cylinder heads. As they get old they tend to get hard and crack. The oil then leaks into the combustion chamber and a little bit of oil is burnt at a time. You won't see smoke but the engine will consume the oil.

 

Thanks everyone for the advice. The exhaust has no oil smell and I can't see any oil leaks from the valve covers, but that doesn't mean it isn't there. Sometimes, but not all the time I smell burnt oil from the car when I park it in the garage, so something is leaking, just need to research it. Richie, what was you problem and what was the fix?

 

My fix for my problem was a new gasket at the rear differential and new fluid, cost was $183 and change, most of the cost, of course, in labor. My GT is running good again, and it still has plenty of life at 80,000 miles and counting.