Hi Joey....
To save a whole bunch of time, I'd you should read all the postings that followed
"Boogie850"s recent postings. Boogie's header was "I'm having a look at a fully loaded '94 turbowagon".
Sounds like the cars you're looking at are in much better shape than Boogie850's, but you have to remember that "Boogie850" is a competant "do it yourselfer". On the other hand, it seems that people who are looking to sell 850 turbos have a lot of trouble parting with them, and therefor tend to price them a bit high. Be prepared to bargain... try 3 to 4K.
850 turbos are fast, comfortable, good handling cars, but they definitely have very distinct personalities. Turbos, moreso than normally aspirated (N/A) cars, are quite sensitive to proper maintenance scheduling. It is a huge advantage (but I wouldn't recommend that you mention this to the prospective seller) if there is a complete set of service records to go with the vehicle. For maximum longevity, the oil should have been changed every 3500 miles, preferably with high quality synthetic oil. Don't be troubled if synthetic hasn't been used, as long as it was done with high quality oil, and done regularly. 850's need timing belt replacement every 70,000 miles. If you are looking at a car with 100K on it, you MUST find out whether or not the belt was changed at the 70K mark, or thereabouts. If the belt has not been changed, and you aren't a shadetree mechanic, you're looking at a $1000.00 job to do the timing belt, idler, tensioner pulley. and serpentine belt with tensioner and idler pulleys. It is recommended that the water pump (which is under the timing case covers) be changed every other timing belt change. That's another $400.00, but if the belts were done at 70K, you don't have to worry about that for another 40K.
The ABS/TRACS module is a weak link on the 850's, but there is a very well known gentleman named Vic Rocha in California (he's the best) who repairs and upgrades them for around $130.00, so even if that needs work, don't sweat it.
The turbo models have relatively stiff suspensions, so expect it to be a bit rough over pot holes and pavement expansion strips. They also tend to eat front brakes, but that may also be a function of driving habits. These things are a blast to drive, especially once the turbo is spooled up, and the brake life tends to reflect the owners driving habits.
The sedans are known as 854's, the wagons are 855's. The "T" is for turbo (duh), and since you haven't said that either one is an "R" model, I assume they're not.
Repair costs on the turbo models aren't significantly higher that the N/A models, except perhaps for the turbo itself, which runs around $1000.00. Mine has 113K on it, and runs great. Other respondants will have their own opinions, and I suggest you read them all carefully.
You'll find a large number of Volvo enthusiasts on this site who will share their knowledge, opinions, and experiences with you.
I'd recommend that you take a good look at both cars, drive them (if possible without the seller along so you can "push" it a little), then re-post what you've seen, heard, and felt, before you commit.
Happy hunting
Marty
'96 855T
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