Most common single topic on this discussion board: ABS control module failure is an acute problem for 96 850's and 98 70's. Since the TRACS program is a function of ABS, both lights come on together. For the 1996, there's a SB out defining an apparently effective repair to faulty wiring crimps though many techs will swap out the controller module as part of the procedure. For the 1998, the prescribed procedure is a replacement controller (problem is 'purportedly' due to cracks in the solder or pc board, but a Volvo tech posting as 'someone claiming to be Frank' doubts this; at any rate, the encapsulated silicone sealant would make repair difficult).

I don't know the price for 96, but for 98 lowest prices I've seen are $348 for the part, and about 2 hours labor. Dealer prices are all over the place ($416 part, $650 to $1000 installed - part included). I paid much less at an independent Volvo repair center.

PLEASE: if it is discovered to be a faulty ABS control module, REPORT IT TO NHTSA for the purposes of data collection and possible owner notification or corrective action. You can do it online at: http://www.nhtsa.dot.gov/cars/problems/ivoq/default.htm

David
(98 S70 T5SE Black, misc mods (mostly lighting), red calipers) (92 940GLE)
(Previous: 86 240DL / 88 745T / 94 945T)