Bought CPO at 23K. 2 months later, the front axle and transmission needed to be replaced. I've also needed to replace the Turbo & Catalytic converter. Carfax clean, volvo certified. From reading Msg boards, I have one of the better dealers who replaces everything as warranty work - not always the case. Car now has 43K and it's decision time as New car warranty is expiring. I bought this to be a long term tank, but not the case. Stick with the pre-1998 for quality (pre-ford years). My first Volvo was amazing, not this one. Also, check message boards, I'm not the only one with this opinion. JD Powers and associates is downgrading Volvo quality.
The car is not that old and I have had to replace, as far as I can tell, everything. The turbo (!), the brakes, the catalytic converter, and lots of things with mysterious names and big price tags. I think the car is really fun to drive and it is the most comfortble car in the world. I also think whoever designed and built it was having a bad day. As much as I love the car when it is working, I would say that this is a car to stay away from.
Wonderful wagon, very fast and comfortable. Experience has been mostly positive but car is not without shortcomings. Stiff suspension makes around town driving an exercise in patience. Numerous rattles throughout the interior make it necessary to crank the stereo. Once on the highway however, the car is very quiet. Dealer feels the nature of being a wagon, coupled with the amount of aluminum used in the build results in chassis flex which causes all the rattling. Another disappointment is the fuel economy. A combination of city/highway miles with a conservative driving style nets about 19 mpg.