Help! Nightmare S40 from Craigslist...

[Spyros]

So I picked up a 2001 Volvo S40 with 68,000 miles on it from Craigslist.. The seller seemed honest enough, a female college student in her mid 20's going to a nice college.

After about 40 miles of driving the oil light came on, I checked the oil and it was full, but I put a little extra in just to make sure. I spilled about a cup of oil all over the engine by mistake. Some smoke comes out from under the hood, I assume because of the oil I spilled.

Another 30 miles of driving and smoke is still coming from the engine, maybe its the oil spill, maybe not.. I suddenly lose power on the highway, can hardly accelerate. I pull off and exit the freeway and as I'm trying to find a good parking lot, I lose power completely. I glide, then jolt forward with lots of accel., then glide again, jolt forward, I swear it's acting just like I ran out of gasoline. I glide into a parking lot and the car turns itself off in a parking space. I tried to start it and the first time the engine wouldn't turn all the way over. So I waited a minute, tried again and it started up. It was just like I ran out of gas, but the tank was half full. This happened a few times.

I drove it to a mechanic and the next day they tell me I have a bad oil leak and that the turbo is broken. I looked up symptoms for a broken turbo and I didn't see anything about the car stalling and randomly failing to start. I am completely out of money and I can't risk paying him to fix something other than the cause of the problem.

Any advice??