Code P0340 indicates a cam position sensor fail. It sounds like you're having a misfire, and from my research this is often due to distributor problems. Now, hopefully the distributor isn't bad because that could be rather expensive. Do you know the last time the previous owner did a tune up? You may just need new plugs and wires, or it could be a bad ignition coil. If your car has a cap and rotor then those may need to be changed. I recommend that you take it to a mechanic and have them diagnose it to find the specific faulty part.
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