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I went from a 240 to an 850 two years ago. I miss the 240, but have not regretted it. Everyone is quick to mention bad rear main seals, AC components, and ABS control modules as problem areas, but I've not seen these problems in either of the two 850's I've owned. I recently sold a '94 850 sedan that had 203K miles on the clock. I got it from my brother who was the second owner from 68K miles. The car had no rust, the original exhaust was still just fine, but it burned a little bit of oil. The steering rack had to be replaced once and I had some driveability troubles that were cured by a new fuel pump and fuel pressure regulator, but other than that both cars have been great Volvos.
Compared to the 240, the 850 is much more modern, comfortable, and, in my experience, has required less routine maintenance than the 240's I have owned (no body or exhaust rusting). Replacement parts cost a little more. I think it's well worth it considering the superior comfort and power of the 850.
Good luck!
--Will
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