Any ideas on what this could be and how to fix it?

 

sounds like its time to rebuild

 

its only got 63k on the whole car....its been parked....it was drove buy a woman till i bought it

 

UHHH OHHHH

 

I am not sure how oil can come out of the tailpipe unless it is getting past the rings and fouling the plugs. How do they look?

 

Are you absolutely sure it's oil? I can't possibly imagine oil getting into the exhaust and not just burning. You'd be leaving a blue smoke screen behind you.

My guess is that you're running pig rich, and the condensation in the exhaust is causing black liquid goo to drip. My IROC did it so bad it stained the floor where it would sputter out of my tail pipes.

 

looks like oil to me, what else could it be?

 

My El Camino was running so rich that it was doing the same thing, stained everything, floor, wall etc. Leaned it out and it was so much more responsive, and no more grime flying

 

If the vehicle did sit for extended periods of time it is possible there may be a lot of varnish on the rings/cyl bores and not making a good seal and oil shooting out if the previous owner did not do regular oil changes. Could also be the valve stems seals may be dried up and broken and oil is leaking past the valve stems. Before I'd spend a lot of money I would buy a can of Sea Foam engine treatment and follow the instructions and see if that does anything for you. If that doesn't work, then replace the valve stem seals and see where you're at after that....

 

if you really want to clean the internals drain the oil and fill with atf.atf has a cleaning solution in it.drive it for a couple days and then drain and repeat if nesecary.

 

Water or a buildup of condensation in the exhaust mixed with soot in the pipe can cause an oil like fluid to drip from the pipe. Is your oil level low?

 

Valve seals will cause this as well - mostly at startup. Once oil pressure builds, and the seals get nice and wet, they will seal better, and the motor won't smoke.

Do you notice this mostly on cold start-up?