Hello everyone! Thanks for taking the time to read my post.

I have a 1988 Volvo 760 Turbo and recently I noticed a small knocking sound when accelerating. I listened carefully and noticed it was only after about 2600 RPM. This led me to believe it was the turbo. Sure enough, soon after on a short trip the car had no power. The engine runs perfect, but as soon as I hit 2500 RPM, the engine gets choked out. I know nothing of cars but to me it seems like the turbo is not spooling up and therefore it is not supplying the air that the engine thinks it is getting and should be getting, resulting in no power. The car will cruise at 60 mph if I accelerate slowly, avoiding more than 2500 RPM. The question is, does anybody know if this engine has the Garrett T3 or the mitsu TD05? Also, how hard would it be for an individual to replace? I have next to zero car experience but am mechanically inclined and good with tools. How much would it cost to have this done in the shop? would you suggest a used turbo or a new one? My Volvo only has 110,000 on it, so I wouldn't want to have to replace it again before the car is junked... I'm thinking i better go new. Agree? Does anybody think that there is something else that caused the turbo to not get cooled, or did it just wear out? (I hear it happens around 110k if you drive like me)

Any information that you all can give me or pointers that may help is greatly appreciated. The car is really fun to drive and corners so awesome, I would really like to get it doing again, I just want to know if it would be worth the cost of a new turbo, and how hard it would be to install it.