Most of these models have 2 oil lights.The red one is oil pressure,if flashing or on when engine is running,it is usually serious.check oil level,but usually caused by blocked pickup screen(a common toyota fault) when services aren't done.The orange oil light is tripped by an oil level sensor on the side of the sump when the oil level is low.If the oil level is ok,note this is a common fault especially if oil changes have been missed,and/or a petrol engine oil used and sludge builds up,sometimes using an additive for flushing prior to oil change can help,but may not work on 1st oil change.
Hi this could be a couple of faults, first obvious one oil level, have you checked to see if you have enough oil in the engine, second, oil pressure sender unit or sensor, this could be faulty if you have enough oil,thirdly, oil pump starting to give up, normally you can hear a slight droning from the front of the engine, and lastly ( witch is the worse scenario ) big ends starting to wear, normally you will hear a knocking noise when you start the vehicle dependent on how worn they are, badly worn loud knocking especially under load, slight ware, you hear the knocking for a few minutes then dies away when it gets hot, this is impending doom and should be looked at straight away or engine could seize...hope this helps
Hey guy had this problem pulled every think apart and re done oil levels and stuff light was still there disconnect possitive post terminal for 10 mins reconnect lights gone 1992 toyota estima 2tz-fe oil level light FIXED
SOURCE: i have a 19991 toyota previa. the oil level light
If the light is flashing there could be problems with the electrical wiring. The easy places to check are at the bottom of the oil reservoir (pass. side under the hood) and at the driver side of the oil pan under the vehicle where the wires plug into the sensor. If this doesn't resolve the problem then it isn't easy, and testing the circuit will have to be done by someone who knows their electrical "stuff." Even the pump motor for the reservoir could be out.
If the Oil Level Sensor light stays on and you have already checked to make sure the oil level read on the dipstick under the driver side seat engine compartment is reading adequate, then you have a sticking oil level sensor float. Replacing the oil level sensor is easy, but extremely expensive ($485 in 2012). You can try to clean the plastic spool that the float slides on, but the problem is usually that it has swollen or expanded (likely from heat in the oil). One could try to sand it down but this would be difficult. I have made a new part out of nylon 6/6 on my lathe and replaced the plastic spool so far with excellent results. I'm considering selling it as an aftermarket part when I see if mine works. It would be a lot less than $485 dollars from Toyota. Or possibly have people send it to me and I'll repair the sensor myself.
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