k, every 1500-2000 mi or so, my low coolant warning goes off, i open the radiator cap, and it's a little low, so i fill it up with water... the first time, i notice a leak in the overflow hose going to the resevoir, so i figured that's where the leak was.... but i got to thinking, cuz there's a strange odor when i step on it... n there's also white smoke sometimes... what does this mean? the motor is only 5000 mi old....

 

Check the hose that runs from the engine to the firewall. I had the exact same problem a couple weeks ago. Look down from the drivers side near the master cylinder. From what i see and read, those hoses have a high failure rate. Hope that helps somewhat....

 

i've checked the hoses.. any hose i can find related to the radiator and found no leaks.... i think, cuz i'm what you would call a mechanically challenged.... one more thing, there is some oily substance floating in my coolant in my radiator.... not good, is it....

 

Yeah, probably not good. But not necessarily. If you want to check your motor's water seals, take off the rad cap on the gooseneck coming off the engine. Fire her up, and check for bubbles.

You could also have a coolant leak in your turbo. Since you haven't said anything about hard-starting, thats probably your prob.