-And it looks like the motor in a recently purchased 1987 Volvo 240 is shot.

A different story for a different day, but a compression test will confirm or deny Tuesday.

What I'm looking for is any engine swap/trans suggestions (ideally in the Volvo family) for said car. Of course, I am open to suggestions outside the Volvo family.

*I am new to working on cars but have help that knows what they're doing.* **Looking for something that doesn't require a lot of fabrication or jerry rigging to get started.** Improving overall speed/acceleration is a big priority as well, would like to see this car in it's first drift competitions sometime next year.

Thanks for the help VF!

 

A b230FT comes to mind... Regular Volvo Turbo Red Block...

Yet, "being new to working on cars"... I don't know; many here seriously underestimate the complexity of automotive technology... Sure, Volvos of that vintage are relatively simple, "relatively". Unfortunately the more you modify, the chances of problems increase in geometric proportions... Many posts here speak to the despair of modifiers who are in over their head. Swapping drivetrains is not for beginners.

 

you have some seriously conflicting goals there. there are no bolt in solutions to engine swaps, they all require fabrication, jerry-rigging, the more power you need, the more modifications required. 'drift competitions', thats gonna need something over 300HP, I bet. my stock B230FT (740 turbo wagon) at 160HP can barely chirp the tires if I thrash it hard. you'll be ripping up motor mounts, transmissions, rear ends at the sorts of power levels you'd need for 'drift competition'.

consult with your 'help that knows what they are doing', as they are your resource in anything like this. look at some of the custom build threads on the 'turbobricks' forum to see how much work is involved in these sorts of mods, or swiftjustice44's thread on his ford V8 powered 740 here on this forum.