I am pleased to have found this forum. I guess I'm the newbie here.

Purchased a 1986 Volvo 740 Turbo wagon from an estate sale, and I must say it's the funnest car I've ever had. The car was reasonably-well maintained; paint and exterior was flawless except for one rust spot near the rear tag mount. Now, to the little things that need correcting (in order of priority):

(1) For the first two weeks the car drove flawlessly, other than minor rattles. I bought a tailgate kit to replace the cracked mounts and a set of tailgate shocks and that completely got rid of the rattle in the tailgate. Turned the rear rotors, and put on rear and front brake pads. Breaks are fine, but the right front one squeals just a bit on average breaking pressure, but interestingly enough not when I make a "hard" stop. I'll check into that again a little later on.

(2) After about two weeks, I began to notice just the slightest waif of gasoline from the engine after the car idles for awhile (I typically warm up the cars before I drive them for at least 10 minutes in cold weather). Took it to a local mechanic, and he traced it to the fuel pressure regulator being just a big "damp" and bad O-rings around the injecters, which I have ordered and will have replaced this weekend.

(3) Now, to the real concern: the oil light began to flicker just the faintest bit when the car was cruising in overdrive. When I first noticed it, I'd press the turbo switch and the light would go out. Then, it began to come on a bit more frequently while driving 30-40 mph, but would go out when I got above 55. Also, when I'd go over a BUMP (like a speed bump in a parking lot, or hit an uneven place on pavement that shook the car, if the light was on, it would go out, and then a while later start to flicker again. Now, it's starting to glow red, almost constantly UNLESS I hit a bump -- in which case it temporarily goes out, and then back on when I get into 3rd or higher gear.

Early on when it started, I had the oil/filter changed, and added a quart of LUCAS oil treatment to see if it might be a sluggish oil pump, but the problem has become increasingly worse.

Anyone have any suggestions that might save me time/money (same thing) in diagnosing and resolving this oil pressure problem.

Also, what is the recommended oil pressure for cold/hot engine for a 230T?

Thanks for your responses.