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Dear jd620,
Good a.m. and may this find you well. The unit from the 1990 740 might work. If the Volvo part number on the control unit casing - 9130207 - matches that of the 1994 940 unit, then you should have no problem.
You can likely get a replacement cruise control unit at a salvage yard, for little money. It is best to go to a yard, that lets you pull the part you need. The cruise control computer is located under the dashboard, on the driver's side, against the outer body panel (i.e., directly opposite the center front console). You'll need to crane your neck to see it, as it is tucked away, high and to the left.
Before you seek a salvage yard unit, check the vacuum line, that attaches to the black rubber cruise control actuator. This actuator is mounted behind the throttle body, which is atop the intake manifold. To locate the throttle body, trace the 3" diameter black rubber hose, that connects the air intake (a black box, 12" x 9", behind the driver-side headlight [non-turbo model]) to the throttle body.
If the vacuum hose has fallen off of the actuator, the cruise control won't work.
It is also possible, that a defective speedometer, can cause the cruise control not to work. If the cruise control computer does not get a speed signal from the speedometer, then the cruise control won't work. The loss of this signal usually manifests itself by wild fluctuations of the speedometer needle.
Check the diagnostic codes. See FAQs under SITE FEATURES, for the proper way to get and to interpret these codes.
Hope this helps.
Happy Holidays, and a Good, Healthy New Year.
Yours faithfully,
spook
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