The 940 distills all of Volvo's 20+ years of experience building midsize four-cylinder cars (staring with the 140) into a handsome, reliable, modern package. When I bought mine recently with 195k miles on it, I spent about $2500 to bring everything up to my exacting mechanical standards. It was worth it, because I expect to get it over 300,000 miles. I'm even thinking of trading my 1995 Volvo 850 Turbo wagon on a 1993 940 sedan, I like the 940 so much better.
Reliability, styling, honesty--no attempt at being flashy or pretentious, it is what it is
More horsepower, which you can get with the turbo version but potentially less reliable