As has been said, you should fix that Check Engine Light! The car will be very dificult to sell with the light lit.
First, about the codes. An engineer, about the string of codes. You KNOW the odds of MULTIPLE simultaneous failures in a car is very small! The way to remedy the situation is not Not NOT to shotgun $2000 worth of repairs into the light, especially if the problem isn't even one of the codes! (My V70 thermostat failed, which -eventually - triggered the CEL and the temperature sensor code. Obviously, replacing the sensor - the code - wouldn't have solved the problem. Replacing the thermostat did.) So I don't know what your service advisor is smoking. Get the car to a shop that knows Volvos - particularly the S80!
Second, I've come to the conclusion that the process of trying to keep these hypercomplex Eurocars running is completely futile. (Mercedes-Benz and BMW are just as bad. Volkswagen and Audi are even worse.)
According to Edmunds.com the "private party" value of a '99 S80 2.9 is $15,471 and a T6 is $17,631. The "street price" of a NEW 2003 Honda Accord V6 EX-L (leather interior) is $23,984. The V6 EX-L bears an uncanny conceptual resemblance to a Volvo 850, right down to the location of the seat heater switches and the big round gauges. It has 240-250 HP depending on gasoline grade. It also has head airbags in addition to front and side airbags. If my wife's Odyssey is any indication, it should be about as trouble-free as my 1983 Honda lawnmower.
After you get the S80 problems fixed, I'd recommend selling the Volvo and buying the Accord.
My $0.02.
-Punxsutawney Phil
'98 V70T5M, 121k mi., iPd stabilizer bars, Volvo strut tower brace and skidplate, Valentine-1, Mobil-1 always, e-code headlight lenses, Dunlop SP5000s
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