Sup 
I realise that you need to change engine oil fairly regularly, and I've been told that by the time the oil light comes on, its too late and the damage is already done.
How much of an effect would this have, and is it even true?

I realise that you need to change engine oil fairly regularly, and I've been told that by the time the oil light comes on, its too late and the damage is already done.
How much of an effect would this have, and is it even true?