Main issues i would worry about are the cat and the turbo...most other stuff is not to bad...

turbo is easy:-

1. does it boost (i.e. drive it!)
2. does it leak oil (i.e. remove tubes to intercooler after you have driven it at full boost and check insides of tubes for oil..if there is any appreciable amount of oil recon on replacing the turbo (or at least a rebuild) for which $1000 would be a good price...
3. Does the turbo sound right..i.e. no grating sounds
4. is there oil in the exhaust etc...and no you might NOT noticethe smoke when driving...but someone in the car behind would... my advice would be get the car good and warm (i.e. 5 miles driving) then get a freind/partner/whatever to follow you as you floor it into boost....if it smokes at all then its either a turbo on the way, leaking turbo tubes (which can be several 100 dollars) or a air mass meter or the like....equally expensive...negotiate on this!

Cat is more fun..if it goes like stink then there probably isnt a problem...if the cat stinks of rotten eggs then its either new (yeh right) or shot!

question i would ask your self...

if the PO had it for 45k in a year which is fairly heavy milage why is he changing...either he had very little maintenance (so why not keep the car) or mucho maintenance...in either case you would expect some paperwork - most people who do 45k in a year keep paper (trust me!).

I would worry that there is a (known to PO big bill in the offing) or that the car has been 'clocked'. My thinking here is that 45k in a year is too much for someone to suddenly decide they didnt like the MPG...but is also big miles and people doing those miles who havent had big bills on a car of that age keep it....

of course he could have seen one hell of a deal on something else i guess...

my advice ...take a REALLY good mechanic who KNOWS 940's and turbo's and is seriously sceptical and treat it as if its bent...if you find nothing...then consider buying it! - I mean if the dealer is desperate this wil at least worry him into a good negotiating position...oh yeh....remember if he can produce the paper to back it up then anything he says is worth the paper it (isnt) written on..

oh and if you think im joking i looked hard at an 850..to find the 130k was really 230k...it had serious (i.e. $3500 worth) of panel damage at the back that took a body work expert to spot and a completely forged service history (nicely done..rubber stamps and all till you spotted that severl service stamps had all missed inking in the smae place over (allegedly) 4 years)...so remember 'let the buyer beware'