I only have 200 miles on it so far, but it is a tone of fun to drive. Great acceleration (I have the 5 cyl engine not the 6, but it is still very fast and has better mgp). It has a quite ride, and lots of gadgets even without the technology package or the DVD navigation system.
Update: The vehicle was bought back by Volvo under the CPO warranty at approximately 67,000 miles because of the concerning oil consumption issue they could not resolve after many visits and about six weeks with my car sitting at the shop waiting for a backordered replacement engine. After much consideration, I replaced the vehicle with an equivalent 2014 model, which is the first year of a minor design refresh. This model has been considerably more reliable in all respects. I cannot recommend the 2012 based on the numerous quality issues and the oil consumption problem that was specific to very early second-generation S60s. Original review: I have owned nothing but Volvos. That said, I'm a bit of a car guy and know the comparisons between my 2012 S60 T5 and its competitors. While it may not handle as tightly as a comparable Mercedes or BMW, a T5 beats a base 3-series or C-Class hands-down when it comes to speed and comfort. It's also a sharp-looking car. My primary motivation for purchasing this vehicle was because it was the second safest car ever tested by the IIHS (next to the Tesla Model S) at the time. I bought it certified pre-owned from a Volvo dealer with about 30,000 miles in 2014. It has the premium package (sunroof, leather, power passenger seat) and climate package (heated seats, headlight washers, rain-sensing wipers). The draw to the CPO car was the 100,000-mile/7-year drivetrain warranty. While I adore this car, I am also very, very glad I have the extended warranty. I don't think I've ever had to take a car into the shop so often. At the time I'm writing this, I have taken the car in four times to fix a leak in the passenger floorboard that they cannot identify (I will give the dealer credit for their exhaustive efforts with this). The silver trim on the steering wheel and console began to peel, which they replaced. They also replaced a broken air vent. One leather panel on the backseat has begun to flake while the ones beside of it have not. It's obvious to me that the tiny panel in the middle is made of inferior material to those surrounding it. The dealer would not address this because they "found evidence" that my dog had ridden in the backseat. Most problematic is that the oil pressure warning came on 4,000 miles after my most recent service, meaning that it was four (of five) quarts low. It goes in later this week to have that issue figured out. I maintain this car well, having my services done when (or before) they're due, and only use synthetic oil. It shouldn't be having these problems. But most importantly to me, I'm safe, comfortable, have the power to escape a treacherous situation, and look damn good doing it. But, of course, it is as I'm on my way to the dealership for the millionth time for warranty work.
My wife and I are long-time BMW owners, and we love those cars. We compared the T5 to a new BMW 3-series, and the T5 won hands-down. It is simply more car for less money. Excellent pickup on the freeway, deft steering, nimble handling. Before buying we also test drove the T6, which was AWESOME, but more car than we needed. The T5 is so much fun to drive and so well-built that I have a feeling our enthusiasm will last long after our last car payment. If you are considering a BMW, Lexus, or the like, you MUST test drive this car. Gone are the days of the stodgy Volvo. This car positively rocks!
The dealer gave me an S60 as a loaner car and I liked it so much that I bought one 3 days later. I'm a long-time BMW owner and would never have thought I'd like an S60, but I was immediately impressed by the combination of comfort, performance, build quality, and classy interior. This is a front-wheel biased vehicle and it will never quite have the handling edge of a RWD car like a 335i, but Volvo found an excellent balance between comfort and performance. The S60 is a more comfortable highway ride with enough power and handling to keep it interesting to drive. I like that this car is HIGHLY configurable to individual driving style and the different settings actually work.
Volvo has really done well with the new S60. It's just a wonderful car, balancing everything from performance to safety and everything in-between. I have the T5 version and it is quiet, very responsive, and gets good gas mileage on regular gas (mine got 32MPG highway on a recent trip). Driving it is a dream. On the outside its a great looking car, but not overstated, the interior is comfortable and elegant. Materials and fit and finish are excellent. When you look at when you get for the price, and then add in the 5yr/50000 mile warranty, which includes wear and tear items and regularly scheduled maintenance, it's just fantastic.