I had the same engine in my similarly aged Octavia (owned from new). By the time I got rid of it at about 120k miles last year, the oil consumption was close to that of a two stroke (1 litre of oil to 2 tanks of petrol!!), but it still ran OK. The timing chain rattled like a chainsaw too on cold starts. Annoying really, because the rest of the car was really solid and almost nothing else went wrong in the 10 years I had it.
Given that it wasn't MOTd when due a few days ago, I suspect it may not have lasted much longer after I moved it on.
They won't all be like that, but it's certainly a risk with that engine. The rattly timing chain noise is really obvious so easy enough to check for, but harder to tell for the oil consumption. Mine produced no visible smoke, other when pushed really hard (foot on the floor) above about 4500rpm the first couple of times after being driven around more normally for a couple of days. Other tell tale signs are a sooty exhaust tip and greasy mark on the bumper near the exhaust.
I might take the risk if this was a £500 car and there wasn't any visible signs of oilmconsumption issues, but wouldn't risk £5000 on it. The 2 litre diesel is probably the safest bet if you want a Yeti - the 1.4 and 1.2 petrols of that era also had issues with the timing chain, though not the oil consumption problem which was limited to the 1.8 and 2.0.
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