Here's a chance to do an old school repair, just like back in the day: Remove the heads and pan. Check the wear ridge at the top of the cylinder by sliding a fingernail up the side of the cylinder wall. If it catches at the top of the cylinder, you need to cut the ridge out with a 'ridge reamer'. You can probably rent one. Then drop the pan and remove the pistons (if you didn't cut the ridge, the rings will catch and break the ring lands). If any cylinders are gouged or grooved from a broken ring or wrist pin keeper, it's game over. Time for a rebore. Otherwise, I've had good results re-ringing engines with up to 020" wear at the top of the cylinders. Check pistons for cracks, clean the carbon out of the ring grooves, wash off the pistons and install new rings. Visually check the rod bearings for wear (compare the upper and lower inserts; the upper one gets the most wear) and run your finger around the crankshaft journal. If it's smooth and you don't feel a ridge between the two rod surfaces, you're good to go. If the rod bearings look worn, or you're feeling rich, put new ones in. If the crank was reground in the past, the undersize will be stamped on the back of the insert. If the front ands rear main seals were not leaking profusely, leave them and the main bearings alone. This all assume the engine was not knocking, just burning oil.
Next, remove the valve keepers, pull out the valves and clean the carbon off the valves and seats. If a valve is burned, replace it. Otherwise, get some valve grinding compound and a suction cup stick and hand lap the valves (turn the engine so each valve is in its closed position). You want to see an even gray band all around the valve and seat. The clearance won't change enough to worry about adjustment. Reassemble engine.
That is your basic ring and valve job which was very common. Up until quite recently (and still may be), re-rings were available with rings, rod bearings, and gaskets. Ring and valve jobs were often needed at 60-70,000 miles (or sooner) and a cheap repair like this could get another 20-30,000 miles and by then the entire car was worn/rusted out.