There is a problem with the oil pan seals that requires attention! My 2004 v70 with 67k flashed the oil warning light twice for a second at a time and then a warning messge NO OIL PRESSURE STOP. 300 feet later I parked the car and then had it towed to the shop...started to place on tow and then to move into the garage....Result was the engine was gone! Oil level was checked after first warning light flash...full! Not real happy as I just bought the car....result is a replacement motor and the oil seals replaced before it was installed....My 2000 v70 never had seals replaced...still does not drip or burn oil at 200k....
This car was my dream car until at 103000 miles the engine simply died. It was in the shop for three months, EEC computer replaced, and another computer replaced and the flywheel was warped and replaced. Even after that - and a $3000 plus repair bill - no one could fix the car!! Any car that is not able to be repaired should never be sold!! DO NOT BUY!
I've had the six-speed version of this twin turbo 300HP behemoth for about 6 months now and love it. Although the interior isn't as luxurious as my old Audi, it does the job just fine and when considering how much faster this thing is, I'll take performance over interior any day. There truly is no other station wagon with this type of power and handling that comes in a six-speed anymore. Add in AWD and we're talking about a car that can go anywhere.
We've driven a lot of Volvos over the years, and the 2004 has the worst reliability by far. We're very disappointed that we had to replace the radiator and rack and pinion steering at 82,000 miles. These were very expensive to replace, and there's no reason that either should have failed before 100K miles. Currently the steering wheel buttons that control the stereo are frozen. The gas gauge also swings wildly from 1/3 full to empty when the vehicle is low on fuel. This car is a heap of problems.