Had my V40 for 8 years, 120K miles. It is a great sport wagon. Excellent cargo room, comfortable for my family of 4. Handles well and was my 50 miles a day commuter averaging 26 mpg mixed driving. Expensive to service but there were no major problems in 8 years. Burns through headlights and bulbs. Don't know why. All over the internet but dealers claim ignorance. My 16 year old just inherited it. Safe, runs great, expect another few good years from it. Over all a good purchase new, and if taken care of, worth the blue book value used. Maybe even undervalued in blue book if clean and taken care of. Just keep after those damn bulb changes.
Comfortable, a little luxury, full of safety features, low pressure turbo is great for power and gas mileage, sport wagon handling is good, cargo room and seating is excellent.
What is up with the electrical system and headlight burnout? Why won't dealers admit it since it is all over the owner forums? Average 3 headlight changes per year over the 8 years. That's crazy!