The light is a warning that your oil is either low or needs changing, and continuing to drive could lead to:
* Engine damage: Lack of lubrication leads to friction and overheating, causing irreparable damage to engine components.
* Reduced engine lifespan: Consistent low oil levels significantly shorten the life of your engine.
* Increased repair costs: Ignoring the warning will likely result in far more expensive repairs than a simple oil change.
Instead of focusing on a timeframe, prioritize getting your oil changed immediately. If you can't get to a mechanic right away, at least check your oil level yourself using the dipstick. If it's low, add oil carefully (check your owner's manual for the correct type and amount) but understand that this is a temporary fix, not a replacement for a proper oil change.
