Overall, a good vehicle for the money. Economy is great (we're getting 32+ mpg on the open road), and features for a small car are good. The Hallmark of a Ford is crap fasteners, and to that end this s40 wears the Mantle of it's once parent company very well. Trunk lid liner fasteners strewn in the trunk, interior panel fastener hanging loose, window base trim. I automatically push it back in now as I reach for the door handle, lower front grill fastener never has been aligned, headlamp washer almost pops back into the correct location, and an external air temp gauge that sporadically reads 20 degrees low (of course, it functions normally at the dealer).
Economy and handling
Let the Volvo engineers undo Ford's "value engineering" efforts. I would approach the purchase of a new Volvo cautiously.