I think my 240's dead

Last summer I purchased an '89 DL wagon, my second brick. It ran
perfectly for months, then started smoking out of nowhere one day.
Then it started clicking...then stalled all the time. Now it won't
even turn over. So here's my question...do you guys think the engine's
dead? I've had a mechanic friend look at it and he ran some tests and
that was his suggestion. I'd love to get this thing running again, any
one have any suggestions about an engine replacement? Or an estimate
of how much that might cost?

 

Is the motor seized? It should be easy to put a wrench on the crank and find
out. Did you run it out of oil? That's what it sounds like to me, or perhaps
the oil pump failed?

Dunno where you are, here it's easy to find a good used Volvo motor for $150
if you're willing to pull it yourself, depends on location though, Volvos
have long been very popular around here and are therefore plentiful.