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Its tough to say what the rattling noise could be without hearing it... Could be any number of things. If it is the timing chain I don't think I would be driving the car until it's dealt with. If the chain or the guides go then you will end up bending valves and will have some major problems. Probably around $3,000 worth of repairs at a shop. A physical inspection of the chain would be a good idea to see how the chain looks and how much slack is in it.

As for the smoke, white smoke is burning coolant. Blue smoke is burning oil. Its either your head gasket or a seal in the turbo if its coolant burning. To see if the head gasket is bad you would either need a compression test or a leak down test. oth can be done at home or at a shop.

Hope it isn't something major, but these don't sound like small problems to me... maybe someone else has a different opinion.
 
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