It's certainly possible to keep a 740 running practically forever, but you'll really like the 850, especially in the snow. It's not as easy to work on as a 740 though. I have and love both -- the 850 is a more modern car, and is the result of about 10 additional years of engineering advancement.
I live in New Hampshire, and while the 740 is a good snow car for RWD, the 850 is just a great snow car. Also my 740 doesn't have ABS and I think all 850s do, and traction control as well.
I've found maintenance to be about the same. My 850 goes through front brake lines more often though -- not a clue why; as far as I can see they're the same lines, but on the 850 they get little cracks near the calipers.
I like driving the 850 better on the highway; quieter and smoother. Better seats. The 740 has a slightly more nimble feel on curves, at least to me.
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87 745T, 97 855. Nine out of ten Black Labs recommend Volvo wagons!
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