Hey folks. This is my first post, though I've been reading BB avidly since just before I bought my '89 740 GLE about eight months ago. It's been a nightmare of a car, and I'm trying to find the best way out of it. I hope some of you will provide me with some advice.

Here's the skinny: bought the car in Oct. '03 from a friend. It was his uncle's car; uncle died; 83,000 miles; factory maintenance; $1500. I thought this was great. I called the dealer where the uncle had his service done and had them fax me the work order from the 50000 mile maintenance wherein they changed the timing belt. I got it and bought the car. Four thousand miles later the belt broke. $2800 later, the car was using oil (1 qt. every 300 miles), which it had not done before. I put the oil in for a few months and finally took it back to my mechanic--strike that--the mechanic. He does a compression test. #4 cylinder has blow-by at 12 pounds compression. He says the rings are most likely shattered and for a paltry $3800 more, he'll do the job. No thanks. The car still ran smoothly for about five months after the timing belt repair and only smoked a bit at starting, but the oil use was consistent and considerable. The timing belt repair included head, valves, etc. etc. As of two days ago, it won't start at all. No warning at all. Turns over but won't start. So...

I am a pretty good mechanic -- well above novice but somewhere shy of expert. I have a shop, a spare car I can use, and all summer to tinker with the 740. But I'm afraid of 2 things: 1)getting in over my head because I've never done this big of a job before and 2)just having another hairpulling experience a few months after I replace the rings. The mechanic contends that this is the worst engine Volvo has ever produced. I am thinking maybe I should just try to find someone who would buy the car as it is, but I hate to admit defeat. I know this is a long sob story, and I apologize. But I'd really appreciate your tips, ideas, admonitions, and/or advice.

Thanks,
Stamp