I bought a volvo s40 about 3 months ago and as soon as I bought it it started smoking from the exhaust. I brought it back to the dealer where I bought it an they claimed it wasn't a blown head gasket, but I'm thinking it may be. It also wont hold coolant and have to fill it up constantly. So today the oil pressure light came on while I was driving and when I stopped there was oil covering the car and leaking oil from under the car. I cant tell where it's leaking from since I cant get under the car to look. Does the white smoke and oil have anything to do with each other? I'm really hoping it's not a super expensive fix. Any advice?
I know nothing about cars and don't have money to take it to a mechanic at the moment.

 

I'd first look at the turbo as it has both coolant and oil connections to the center section. Coolant to cool the turbo and oil to cool and lubricate the bearings. You could bypass the coolant line to see if the white smoke stops.