losing oil and white smoke from tail pipe on 1999 BMW 740iL

1999 bmw 740il,bought the car about 5 months ago. changed the oil and car is now using oil,oil leaks from under the car.runs rough until oil is put in it,seems to have a miss now..its in the shop and i was just told it could be the engine.it has 136,000 miles ..was told by someone it might be something else,several things could be wrong before getting a new engine...HELP any advice is appreicated

by in Morristown, TN on December 08, 2010
Get Your Car Fixed at a RepairPal Certified Shop.
We certify shops based on expertise, quality work, and verified customer reviews
1 answer 1 comment
ANSWER by , December 14, 2010
The pcv system could be at fault, but most likely the engine is shagged. These v8 are a leaking machine, but if it is consuming oil and its visible, time for a new engine/car
COMMENT by , December 14, 2010
thanks.this is very helpful.