The S40 is a great way for Volvo to reach a new crowd of drivers, the car is solid, but there are some minor annoyances. Seems as though I have the same likes/issues as most of the others on the list. I have replaced both the front and rear brakes (car only has 31,000 miles), the 'check engine light' comes on/off constantly (it's an emissions fault, but does not affect the car in anyway, but would make it difficult to sell if the light came on), and I have replaced the front bulbs 3 times, though the latest set have lasted over a year.
Peppy engine, best winter handling car I've ever had
Needs some nicer materials on the interior, as it seems the plastic speaker covers have warped with time, and look about ready to pop off at any time...