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If you're shopping for a sedan I think you're more likely to have success with a Honda Accord or Toyota Camry. Volvos are comfortable cars but from my experience they can be relatively expensive to repair and maintain, both in terms of frequency and cost of repairs. If you're set on this car then press for maintenance records and take it to an expert tech for prepurchase inspection.
I chose Volvo because there weren't really any other wagon choices that fit my needs (I've had a 1995 850 GLE wagon for 5 years). I put up with its foibles because it's a great vehicle in most practical respects, but if I wanted a sedan? Forget it! There are better options on the market.
If you're running some financial forecasting scenarios for this car I suggest including a scenario of selling it shortly after its 2-year warranty expires and deciding if that would be acceptable. Not that that's a certain fate, but you may find yourself in that situation if you come to rely heavily on the warranty.
I don't have a daughter but if I did I would only support a Honda or Toyota - provided it had a NHTSA 5-star protection rating.
Another option is to make lots of friends with cars to bum rides, use transit, rent occasionally and save a pile of money to help with the career launch when school is finished.
Best of luck.
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