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My 2002 Corsa GLS 1.2 16v now completely lacks power, and oil light is on.
I've spoke to a friend who said there's a good chance it's the oil pump, if this is the case does anyone know roughly how much it'd cost to be fixed?
I'm useless with cars, but I've only just brought the damn thing, and I like it so I'd rather not have to scrap it.

Thanks in advance.
 

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First thing get the oil pressure checked it may only be the sender switch, if it turns out to be the pump and you are anywhere near Sheffield I have a good second hand one you can have, won't be a cheap job in a garage, if I was doing it it would cost you £100
But first I would do a oil pressure and a compression test to find out the state of the engine
 

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Welcome to the Forum.

Lack of oil pressure (as indicated by the oil light coming 'ON' whilst the engine is running), means that you should STOP the engine immediately and investigate the cause. Failure to stop the engine can be the quickest ever way to ruin the engine, particularly if the oil warning light is accompanied by other symptoms (unusual noise from the engine or the engine simply grinding to a halt)

If there were any (knocking) noises from your engine, it is probably too late to save it.

Now for the (POSSIBLE) good news. - It may be that the oil pressure is OK, and what you have is an electrical fault. If this is the case, it will be MUCH cheaper to fix.

It just isn't possible to give you a price for repairing this, because, as yet, we don't know what the problem is.
What I would recommend, is that you DO NOT run the engine if there are unusual noises coming from it.
If the engine does sound 'normal', I would get the oil pressure checked - also, get any fault codes read and cleared (deleted) run the engine for a while and re-read the codes. Any codes that show up relating to the engine will be new ones, and will probably point you to the cause of the problem.
Try and find a RECOMMENDED garage to do the above, the motor trade has a lot of cowboys in it, who will tell you all sorts of things (like quoting old fault codes, which have probably been repaired, but the codes not cleared) or some other story to separate you from your money.
If you are lucky, you MAY get away with something simple, like a new oil pressure switch.

Just one point for the future: The 'oil warning light' tells you that the oil PRESSURE is low. It is NOT telling you that the oil LEVEL in the sump is low! (Obviously though, if there isn't any oil in there, there won't be any oil pressure)

You might care to let us know how you get on.

Regards
 
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