We recently purchased a 2001 S80 T6, our first Volvo. It has about 75K on it. The car has a good service record, although the timing belt hasn't been replaced. When should I do that? How much will it set me back, on average, and re. the turbo, how much life should I expect before it goes belly-up?

The T-Belt is supposed to be replaced at 105,000 miles. However, the tensioner can fail and if this happens, you're looking at a $2-3000 repair. I would consider having it done between now and 105k. It's not worth the damage that will be done.

The turbos are very reliable, as long as the oil is changed regularly.

If it were my car, I would consider a total software upgrade to the car. This car has a totally networked computer system, and several issues arise that software fixes. One of these problems can cost much more than just upgrading it all now.
And I would want everything working properly.

Also, make sure all recalls are performed, and especially make sure the ETM software has been upgraded.

Enjoy your new car, it is a very nice ride!

B