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Just Bought a 740 Sedan and Have Questions! 700 1990

Hi,
So I just bought a 740 Sedan for 700 dollars (originally $900) and I have a few questions. I have never owned a Volvo but I love the Honda's I've had and wanted another dependable car.
First, right after I purchased the car the Anti-Lock light went on. The brakes seems to be working perfectly, stopping on a dime. Does anyone know why the light might be on?
Secondly, the car is loud which I dont think is too abnormal. Its not making any clanking or other odd noises. Just what I assume to be typical engine 'noise'. Does that seem normal to anyone else?
Also, there is sometimes a sliding kind of noise coming from the bottom of the car. It doesnt seem to affect anything but I dont know for sure.
If you have answers (or opinions) to any of these questions, I'd love to hear your comments. I need all the info I can get.
Emily






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