I just purchased a 1991 volvo 240 with 149k miles for 1700 dollars. Completely rust-free, perfect frame, perfect interior, and a motor that seems to be running like a champ.

This is my first car, and I chose it first off because I love the way it looks (I drove my brothers '79 Park Avenue), so I was instantly drawn to it's appearance. We found this one, and we aren't too sure about how well it was maintaned, though the previous owner says all basic maintenance was performed.

My father is a mechanic, who is somewhat computer illiterate, however I had a few questions for readers.

My first is, what should I know about a timing belt on this car? We've read to replace it ever 50k miles, but does anyone have any comment on the timing belts on these cars?

Next, The "Service Engine" light comes on when first started, but turns off as soon as you get the car rolling - is this an issue?

For owners of this car, what are things that frequently go wrong, or that I should be cautious of?

This is our first foreign car, but I thought it would be a great investment.

ANY and ALL advice is more than welcome! Thank you!