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Try to avoid the early AWD's. I would stick to the FWD V70. Also, in '99 an electronic throttle body (ETM), or as the industry refers to it as the "fly by wire" throttle. It is no longer controlled by a wire pulling the throttle, but a computer and a sensor that tends to become faulty. The repair is about a grand. Finally at the beginning of this year Volvo owned up to the issue and warranted it for 10 years/200,000 miles (which ever comes first), but it's still a hassle and possibly dangerous (you may stall in the middle of a busy intersection, for instance), so with all of that said, I would seriously look at a '98 model. There are some odd quirks to all Volvo's but over-all a reliable car and I wouldn't say that the turbo is any more troublesome than the non-turbo...really depends on if you wan the extra ooomph when you are getting on the interstate on-ramp, etc. If you don't need the extra power, the NA (non-aspirated) or non-turbo is fine. I personally have a high pressure turbo in my S70 and my wife has a low pressure (LP) (not as big and so a few less horse powers) turbo in hers and we love both cars. Her's is plenty powerful enough.
This might help you understand the different trim levels:
http://en.wikipedia.org/wiki/Volvo_V70
The Base is without turbo
The GLT is the LP turbo
The T5 and R have the HP turbo.
I'll let others chime in with common repairs, etc.
My only advise is to make sure that routine maintenance was completed on the car you buy and the timing belt was changed at 70K miles. If the belt breaks, the engine is toast. Other than that, make sure the A/C blows cold and no engine lights are on on the dash. A carfax will tell you some information, but the best indication is service records.
Good luck!
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1998 S70 T5 Emarald Green Metallic, 2004 V70 2.5T Ruby Red, Previous Owner of Black '94 850 Turbo Wagon. My cars have been running so well lately they've got me worried.
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