I've owned my 850R since new and it has been a reliable car but there are several well-documented problems that are likely to surface on this car. In my experience, they are as follows:

1) Broken top-engine-mount. ($40 DIY-Fix)
2) Lose driver's seat mount. (DIY-Fix, you can install a seat strut)
3) ABS/TRAC module failure (~$250-400, depends on whether you buy a new or used replacement; you can replace it yourself with the right wrench)
4) Oil Leak at the oil-return-line and/or rear-main-seal. Mechanics familiar with Volvos can point it out, but the problem can be repaired by chainging the seal.
5) AirCondition's fan can produce an annoying whine. (~$250 new fan)
6) Some stock Volvo batteries do not last (~$100 new Sears Diehard Batt)

www.volvospeed.com has a maintenance section called BAY13 that documents all the service items.

Good luck. I also think a S90 or 960 would be just as reliable. My mother owns one.

The key to owning a pre-owned FWD Volvo (any pre-owned car really) is the maintenance records. Has the vehicle been maintained correctly. I recently purchased my first FWD Volvo, a 1996 850 GLT with 105,000 on the clock. Before the purchase I did the CarFax thing and contacted the Volvo dealer where the car had been serviced for the service records. They will not provide a copy of the records, but will tell you what has been done and when. Also, ask if there are any "Declines", as these are items the dealer identified as needing repair and the owner declined.

Three months after my purchase, and 4,500 miles, I love this car. There will be a few items to fix along the way, but overall I am very happy with the performance. Look around for deals on parts if you need any. I recently purchased a ABS control unit for $50 and had it refurnished for $130. That gives me a refurbished ABS control unit with two year warranty for $180 installed, which beats $800 any day.

Do your research and enjoy the FWD experience.

Oliver

64 122S
66 1800S
86 245DL
96 850 GLT

i have a 95 854t and its the best.. for me.. low maintenance.. just the odd thing here and there (like any other car) beside it being a performer..
but do a search... its either a great car or moneypit..
for me its a great car..

Lets not kid ourselves, the FWD volvos with the white engine, are not bulletproof like the RWD volvos with the red B230 engine.

Yes the FWD are faster, nicer looking and more confortable, but they are expensive to maintain.
Parts/labor is expensive and engine bay is so tight and not friendly to the DIY.
-ABS module $800+
-ac evaporator $1200+
-t-belt change $280+
-other electrical gremlins

If I were you I would look for a '95 940T, your wallet would thank you.

--
'88 240, '92 745, '98 v70 John, Tampa Bay

I own a black '97 850-R with 88k miles from new. I will probably keep it until I can't drive it anymore simply because I own it free and clear. It runs very well, including the transmission. I do get the flashing dash lights at the ac, but I don't have the $ to get it fixed right now. They are very nice cars if treated well, like mine, but if they are abused, stay away.

Pros:
If well maintained, will last a very long time.
Cheap to maintain, things don't break. When they do break, like any other car its age, it costs to fix it.
Mine is paid for.
Very solid car.

Cons:
Mine has 17" wheels and so I go through a set of tires about every 20-25k miles. About $550 without alignment. I wish I had 16's on it so I could put a set of 60k mile tires on it.

Stiff ride. I accepted that when I bought it. A little too stiff for me now.

An alternate car I found that I really like, the '04 Acura TL.