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Hi Rick,
Your biggest headache will be the automatic transmission (assuming the car is equipped with an automatic). Check the fluid. If it is black or dark brown then ask the owner when the fluid was last flushed. If the owner gives you a puzzled look and does not know what you are talking about then I would serious consider looking else where for a used S70.
The automatic transmission in these cars is notorious for burning transmission fluid. Also there is no automatic transmission oil filter built into the transmission. So any metal particles that were created during the break-in period have been circulating around with the transmission oil causing additional wear. The transmission value body is what suffers the most from this crappy transmission oil. I know of nine 70 series owners who have had the transmission fail. All of the failures have occurred around 60k to 70k miles.
Also the ETS (Electronic Throttle System, only used on Turbo models) are not the most bullet proof. If the ETS has the old Software installed then the upper engine mount can be cracked due to the engine turning off in a very rough manor. A simple reprogramming of the ETS system will cure this problem. Also some of the early ETS modules do not last long. Volvo has a newer ETS module that seems to operate much better then the old one.
The only other problems I have heard of are the window switches do not last long and some owners have complained about excessive outer tire wear on the front tires.
Other then the above issues/problems I think the S70 is a nice car. I only wished Volvo did a better job on the automatic transmission.
Good Luck,
Steven---
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