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I have a '98 V70 awd that I bought from the original owner 8 years ago w/55K miles. we have put about 88K miles on it and have had no major problems. I am guessing from the comments I have read over the years about this car that I have been lucky to have had no problems with the transmission, AWD system (bevel gear), etc. I have made a point of changing the oil (using mobil 1) every 5K miles, having the transmission flushed, doing suggested maintenance, etc. The car has not been trouble-free, and I imagine that repair costs (I have a very good local indy mechanic) are probably more than for a Toyota, Honda, or Subaru, but for a 14-year-old car they are not bad. I have been rewarded with the best, most comfortable, safest car I have owned. No rust (I live in Vermont and bought the car in Chicago) after 14 winters of salted roads), and it has kept my family safe. It is a solid car. Having said that, I would not have bought AWD if we did not live in a very snowy area. There is a mileage penalty and the worry that something might go wrong with the awd system. Great car, though. Hope to keep it another 5-10 years. Here, our option was a Subaru, which are great cars but not as comfortable and they tend to rust (I have owned both--Volvo is more comfortable and solid and rust-free).
By the way, problems I have had have tended to do with front suspension (control arms, tie rods, etc.) and O2 sensors. Oh, and we had an oil leak that turned out to be a rear cam seal. Good luck!
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