What's the easiest & cheapest way to cover old, uneven vinyl wallpaper

I the edges are coming apart of the wallpaper, you can get a tube of glue to stick the edges back down. If you do not do this step and paint over it, it will be very obc and continue to loosen up. Since the wallpaper is vinyl, you must use a primer.

Look at the glues and primers in the wallpaper section of a hardware store. There will be one that says it is for vinyl wallpaper. Then you can paint over the primer. Of course, the very best thing is to remove the wallpape, glue, sand and then prime and paint.

You could use beadboard thats paintable and add molding in white and that's also paintable. Ez fix🔨⚒

Remove any loose corners and paper, apply oil base Kilz, let dry 24 hrs then texture and paint.

maybe paint it with primer to smooth it out and then paint again the color you want

You could put up bead board on the walls in 4' x 8' sheets, if walls are out of level use firring strips to level walls where needed. You could do the lower half bead board, and the upper half in plastic simulated metal ceiling tiles you can paint, and put on with construction adhesive.

Pic of bead board below, and ship lap with 1/4" reveal between boards.... https://i.pinimg.com/736x/fb/97/15/fb9715c8dc6e5655764b931d3096f425--beads-half-baths.jpg

ceiling tile....http://www.homedepot.com/p/A-La-Maison-Ceilings-Diamond-Wreath-1-6-ft-x-1-6-ft-Foam-Glue-up-Ceiling-Tile-in-Plain-White-21-6-sq-ft-case-R02pw-8/206999242 lots of other designs on there, and paint your color.

Cool, thanks!

sharon has given the best advice for your ez fix🔨📌