So, the check engine light has been erratically going on and off for the past couple weeks, i.e. on for a few days off for a few, and i don't have a VAG, but my buddy thinks its an o2 sensor. If this is true, what are the consequences of driving it around still.
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I second the O2 sensor, that's what mine was, if so no consequences.

 

Intermittent O2 fault most likly or stored misfires or EGTS (int.) all possible only things would be small lack in performance and gas mileage.

 

It is almost impossible to tell you what it is, from that description.

Most Autopart stores will check for codes for free, or use the Vag locator, to find some one local to help you out.

It can be anything from a dirty MAF, to failing DV's a small TBB rip, clogged injector, bad spark plugs, failing EGT & O2, etc....