As if losing my job couple of months ago was not enough heartache ... my 95 850 turbo died on me on the highway today...I hope someone can guide me on how to proceed with the repairs and maybe someone can help me figure out what could have happened and $ amount of damage.

On my way home as I tried to get on the 3 lane route..as I stepped on the gas to merge and I heard a pop sound from ..i think it was under the car and the next thing I know that I am lost power in the engine and am having trouble accelerating. I realized something was wrong but thought I would get home figure out later..did not make it home. I tried to accelerate and after a couple of minutes the lights on the dash came on ..brakes were gone and was lucky to pull over the shoulder and had to use the hand brake..by the way tow service did not come for 2 hours..

Can someone tell what could have broken based on the history below ..I feeling the transmission shifting funny for a couple of days...This afternoon the lights on the A/C started flashing ...and unfortunately the timing belt was never changed..

IF the transmission gave out what is the damage and if the timing belt gave out what is the damage..any other ideas...

any input from a Volvo mechanic would really help me out..



the history of the car as follows:
80000 miles
2500 miles oil changes.
Transmission replaced by dealer 1 year ago..
Timing belt ignored..