That's the Ford based P3 about which I have minimal knowledge (mines the original P80 version.)
Alas, not well thought of by Volvo affionados.
The engine isn't a bad one, essentially the one Ford stole and slapped in the Fucus ST, but it's not an engine to run on the cheap. For example, they have a reputation for eating any belts fitted that aren't OE Volvo and a proper Volvo belt job is the thick end of a grand. Control arms go and anything other than OE is unlikely to last two years. They simply can't be run on a shoestring.
A full belt job, four tyres and an MOT recently cost me £1300 on my P80, as much as the P3 in the ad is worth.