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James,
The 240 is a great car. I have an 89 sedan, and when I got it the gaskets on top of the head were all so worn a leaky that the car barely had any vacuum, but it still got me home, and to work for a while until I could muster up the funds to undo a lot of the neglect she had seen. These cars have so much character. The engine is incredibly underpowered, loud, and not the most fuel efficient. They get set in their ways, and you will find small flaws in design like the flame trap system, or the 25 amp fuse in the late 80s models, but while you won't be running circles around most other cars on the road, you will surely out run them in the long wrong. A 240 in the worst repair will still be cheaper to own than a new car. Most parts are plentiful, and the market is flooded with a lot of after market crap. Makes sure you buy OEM parts, and follow specifications for everything. You don't need to run synthetic oil if you aren't trying to push the swedish engineering to its limits. The DOT spec headlamps will drive you mad, but a pair of the E-code european headlamps are worth the $300. iPD will become your best friend, and you will get to know some of the people at FCP Groton by name. All of the basic scheduled maintenance you can learn to do yourself, just be extremely careful lifting the car if you have to (the certainly aren't light) and remember that most of the fasteners and hardware are going to be old and tired and ready to snap (you will want to buy several cans of PB Blaster). If you don't mind not having modern extravagances like blue tooth, stability control, power seats, and cup holders, you will see the beauty behind these reliable, swedish safety boxes.
Good luck,
Justin
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