I bought a 1990 740 turbo in almost mint condition. I paid $2500 for it. It has 180,000+ miles on it. I have had mostly minor work done to it. The biggest thing was the timing belt, which wasnt too bad. I now have a smoking gun. I could provide all the fog needed for Ozzfest. This thing makes some serious smoke. The seals in the turbo are bad. The turbo works, but man is it smoky. I found out to get a new turbo is about $1600, to get a rebuilt one is about $1200, and to rebuild the one I have is about $800. HELP!!!! I dont care if the turbo works or not. Is there a way I can crimp the oil line that goes to the turbo so that it stops the smoke and then hopefully the turbo will just seize up? And if so will this stop the car from running altogether, of would it just run like a volvo that has no turbo? Please help, this is my only care I have a wife and 3 kids and this is all we have. Good car, Bad smoker.

Look on EBay, find the company that is located in CA. They sell them through EBay for around $350.00.

After you replace the turbo switch to synthetic oil.
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90 744ti, Airbox, K/N, Cold air, G-Valve, Dual boost control, VDO, Modified exhaust. 88 745 gle.

5003713 Rebuilt Turbo 90-95 $595.00 $150.00 core Erickson Industries Rebuilt

3514532 Turbo Upper Oil Feed Line 90-95(engine to turbo) req 947282 x 2 seals and 947621 x 2 seals 90-95 $45.50 Genuine Volvo

$475 plus $200 core charge from erickson industries in sept 02 on my 1990 740 rebuilt turbo.

A few more dollars for a turbo to drain pipe gasket and a drain pipe to block O-ring (tip...buy three of them. You'll probably damage one or two the first time you install the drain pipe...you'll cut it). Buy a few of the special nuts for the turbo exhaust header studs too.

Takes about three hours the first time if you don't break anything.

I don't know who is giving you your turbo prices but they certainly aren't cutting you any deal. Around here a rebuilt turbo cartridge will run about $350 exchange, figure another $50 for a new oil feed line (usually required by any rebuilder) and gaskets. The Mitsubishi turbo is easier to swap out the cartridge than the Garrett as the cartridge is help on by clamps and keyed radially, so it is harder to screw up.This is not that hard a job to do, any decent mechanic should be able to swap out a cartridge although finding a rebuild shop yourself might save some money from being overcharged for the cartridge.

If you're sure it's the turbo maybe you can clean out or replace the drain line.
But the cartridge is likely to be coked up also. The oil may be not be able to drain away from the seals
Don't pinch off the supply line or you'll create a major restriction in both the intake and exhaust when it seizes!

Thanks to everyone for this information, you all have given me info that I can look into and most likely get this done with out having to sell my first born child. I do have another problem, My brake lights stopped working, I have checked the bulbs, actually got all new bulbs, cleaned all the contacts. But they still dont work. all the other lights work(reverse lights, directional lights, and even the Third brake light in the middle back window, just not the regular brake lights, any ideas?

I went through this recently. Wound up having to pull the the tail light out and clean the contact strips that run along each "bucket" that hold the individual bulbs. This is easy. Go inside the tail area, pull off the cover panel for the light and pull up and out the cover panel on the floor. There are two hole in there so that you can stick a 10mm socket on a 6 inch extension and get the bottom bolts on the light. One bolt on the top and the whole thing is out.
But as always: check the simple stuff first: fuses, brake light switch and bulbs. The buckets themselves lose contact in rainy weather.
Find another mechanic for your turbo. Buddy at work got a mechanic to do the job for 700.