On an interference motor you would be correct, however the Volvo red engines( except for the B234F 16 valve motor) are non-interference and this should not be an issue. The amount of labor charged to replace that belt varies greatly, right out of the VSTG (volvo service time guide) it pays 1.5, we always got 2.5 at the dealer and if you look it up in the Chilton labor guide it pays almost 3.0. In my shop I charge a flat $150.00 to hang that belt, parts and labor/out-the-door. That is a smoking price but it is what's necessary to get those kind of jobs in the area I am in. Reality is though it takes me about 15 minutes to hang just a belt and a Contitech belt costs me a whole dollar, so $149.00 profit for 15 minutes work is worth it to me and often times there is upsell to be had on these cars like seals,covers, and tensioners. Seals should run about an additional .6 labor plus the parts and insist on factory Volvo seals, belts are about 10.00-15.00 each and the tech should get an extra couple of tenths to change them out as it is not necessary to remove the power steering belt on a 240 motor to do that timing belt. The tensioner should be worth an additional tenth to change out as well and they list for about $95.00 each. So you can see that even if someone started out at the smokin' price of $150.00 installed you can get up to 400.00-500.00 pretty quick.

Mark