Hello! My husband and I own a 16v 1991 940 GLE wagon, and we've had valve issues twice in two years. We bought the car over 2 years ago. No problems initially, and then right at the first year point, we heard a pinging noise, and took it in. 1100 USD later, we had the problem fixed with a year warranty. Then, 1 1/2 years later, we heard the pinging again. We knew what it was, but the year warranty was over, and so we paid another 1000 USD. We've spoken with several folks about the 16v engine. It was a rare thing with Volvos [we own two wagons] to make a 16v, and they dropped doing it for a reason. They're not that good at it. We've been advised to sell as quickly as possible. We plan to sell early next year. The car runs fine, but it's like driving another 1000 time bomb. Granted, it's better than a car payment, but it still stinks. However, we've since talked with plenty of other folks who recommend we keep the car and maintain it a ton. The fault was with the mechanic [who was recommended highly] as he didn't find the cause of the issue. When folks talk about bent/burnt valves, you're looking at a 1000 USD. If that doesn't scare you, find a mechanic [not a dealer] and get it fixed. It takes tons of labor time/costs, as it's taking the engine apart. Make sure you get references to the mechanic. We have since found a dream of a mechanic shop [fast, smart, and thorough] and they specialize in Volvos, BMWs, Benzes, etc. If it happens again, we'll spend the 1000 USD there next time instead of with this stupid, sloppy shop we initially were stuck with.
If it is a valve issue, then they have to get in the engine to determine a bent or burnt valve. You have to recondition the head, which usually occurs at another contracted shop. Also, you have to determine the cause of the valve issue, or you'll keep having the problem. It usually deals with either the intake or the output. In other words, fuel pump or injection, or exhaust system at the other end.
Another thing to think about is really heavily treating the fuel injection system. Clean the heck out of it. Keep your fuel injection cleaner going in the tank, get your oil changed religiously, and you should be fine. Does the engine run hot? Another bad sign. That could point to exhaust.
When you love Volvos as much as we do, then it's worth the time and effort. We will buy another Volvo. Even our kids love these dang cars!
Good luck and keep us posted.
Mary
91 940 GLE 90 740 Turbo Intercooler
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