1998 Chevrolet Lumina - As bad at it seems?

I bought a 98 Chevy Lumina. Low coolant light on, white smoke from tail pipe. Will it be expensive to fix.

In all likelihood, your lower intake manifold gaskets are blown

This explains the low coolant light, as well as the white smoke

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Yes, see @db4690’s post above

Intake gasket, not unusual for that engine. A competent mechanic can fix that but $$