306 XSI... Problem child - PLEASE HELP!!!

[championi]

Hi all,
I'm after a bit of advice on a 306 XSI (96), if any of you could be so kind!
I bought it after a 5 minute test drive, but the problems don't kick in until after 10 minutes of driving!

I had it serviced as soon as i got it, so it's had filters and oil change/plugs and the like. It felt a bit 'tight'... like the acceleration was inhibited slightly on the test drive, but I was told the car was parked up for months, and assumed it was the handbrake or something. This never changed after informing my mechanic at the time of having it serviced... He said he did check, but it was ok and the problem may be exhaust related.

Problems...
Since I bought it a couple of months ago, the exhaust has started making a loud noise like one of those chav-mobiles. If I buy a new exhaust and just replace the old one, will it be ok, or is it likely to be something else as well?
Can I not botch it for a bit with some tape that a guy in the pub told me about? How would/could I do that? I can't even drive it anymore it's that embarassing!!!

Also there's an engine cut-out problem approaching junctions, and changing gear... only happens when the car's warm though. I can usually bump it back in as I roll, but it does restart with the key whenever needs must.
I've read all about the stepper motor, and/or oxygen sensor on another site, which seems to be the same problem... I reckon i'll be alright if I change both.

What I really want to know is mainly about the exhaust, and if I need to buy a full new one... with the cost of changing the valve/sensor and that, I don't want it to become a cash cow!
Also, are the 2 problems likely to be related to each other?

I'm no mechanic, but i've read up and most of the stuff appears to be things I can do myself. I've got a cheap scrappie round the corner, so I can get most of the bits I'll need. If I had any money, i'd take it down the scrappie and buy a new one altogether, but credit crunch and all that!! And it seems a shame to get rid since I only just got it, and it's a nice looking little car... I could do with getting another 6 months of QUIET runaround out of it!

Anyway, cheers for all your help in advance.
Craig.

www.surefire-artwork.co.uk