By 1992, most of the problems that plagued the "early" 240s had been addressed.

A couple of things to look out for though, just due to the age and mileage:


-Condition of the heater core and blower motor. Blower motor is good for about 15-20 years, after which the lube in the bearings dries out and they start sqwaking. The motor and resistor are around $100, but to replace them, the entire dash and the front seats must come out. While you are in there, you might as well replace the heater core if it is original as 85% of that job is tearing down the dash, which you've already done if you are replacing your blower motor.

-Rear suspension bushings. The original bushings are rubber and harden (or tear) after a couple decades. Symptoms are "moans and groans" from the rear end on acceleration and deceleration, an unusually hard ride, and sometimes a sagging rear end (but check the springs back there too if the rear end is sagging). The trailing arm bushings usually go first, but at this point you might as well replace all of them, including the torque rod bushings.

-Front end. 240s have a reputation for "eating" ball joints and outer tide rods, particularly in cities that have poorly maintained roads. This is an easy DIY repair and the parts are not expensive. Also, every 240 that I have ever owned needed a new steering rack at some point in its life. Either the seals shrink and the rack starts leaking, or the steering effort increases on one side making the car difficult to steer.

-Engine and transmission mounts. Another weak point on these cars. Volvo says it is part of the safety design where the engine and transmission go under the car in a front end collision, but I think really the parts are just sub-par. Motor mounts need to be replaced every 3-4 years. Transmission mounts last longer. It's a doable DIY job but is time consuming. Parts are very inexpensive.

-Cooling system. The original Blackstone branded radiator has an aluminum core with plastic end tanks where the upper and lower hoses connect to the radiator. Usual failure mode is a crack in one of the end tanks, which results in rapid loss of coolant and potential overheating (and then a blown head gasket or warped head). If you still have the original radiator - or the previous owner replaced it with another OEM - look into a Nissens 3-row all metal radiator. They are expensive, but totally worth it. They can be serviced where the OEM radiator cannot be, and they have 3 rows of fins versus 3 on the OEM, so they cool significantly better than OEM. You will definitely notice the difference on a hot day with the A/C on or climbing a long grade at highway speeds.

Also check the water pump. The pumps are good quality but often the seal between the pump and the block leaks.

-Electrical. Most of the "famous" 240 electrical gremlins were worked out by the '92 model year, but they still used ceramic fuses. Also, the car is full of Bosch relays that run the fuel injection system. You will always want to carry spares of these as if they fail, the fuel pumps will stop running and you're stuck on the side of the road.

Ground connections need to be periodically cleaned and tightened.