I purchased my '05 S40 brand new back in November. As soon as I hit 3,000 miles everything went downhill. I found myself taking my car in for repairs more than I was driving it! In the 6 months that I owned it, it spent 45 days in the service department during 7 separate visits! And they couldn't even fix most of the problems! This was the worst decision I have ever made. Thanks to an attorney, I filed a lawsuit against Volvo and they were forced to purchase the car back. Never again will I buy another Volvo.
It looks nice, that's about it.
The build quality is poor, the mechanical quality is poor, and there are way too many problems that should have been fixed before they released this model. If you don't have problems now, just wait because you will. I have never been more disappointed in a vehicle as I am my '05 Volvo S40.