I've been eyeing volvo's a lot lately, mostly 240's, however I went and test drove a 740 (or was it a 760?) turbo today. Me liked... A lot... It was fully loaded with leather, dual power seats, auto climate, etc.. It had about 207k miles on it but felt pretty good although the turbo didnt seem to be doing much of anything. The body was in decent shape except for a sizeable dent on the door. They were asking about $1200. I may look for another one but I know I definitely want one.

ANyway here's my barriage of questions:

What's the difference between a 740 and a 760? I imagine the 760 is the more upscale model. Also, what's the deal with the 16 valve engine? How much power does it have and what was it available on?

Generally what kind of problems are common on these? And how much do they differ from 240's mechanically?

Does it have a limited slip differential? Was one even available?

Was ABS standard/optional? What about cruise control?

What kind of mileage are you guys getting?

Basically I need the car to be my commuter car. I have a LONG commute (80 miles round trip, but with traffic it turns out to be about an 1:30min drive), so I need something that rides nice, is safe (I've seen some nasty accidents on the way to work), gets respectable MPG and is reliable. Can a decent 740 handle that? How strong are the auto trannies?

That's all I can think of for now. Also just tell me anything useful a new volvo owner might like to know.

Thanks!