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The '87 760 Turbo that I've owned for the past two years has been a gem!
Had 170K when I bought it and now nearly 30K miles later, is running like a champ. The car came to me because the owner didn't like the piston slop which resulted from him running out of coolant and overheating the engine. Prognosis from Volvo dealer was that the car needed a top end job for thousands, and if complete engine needed rebuilding, was going to be thousants more. But the mechanic told the PO, "I'd drive it till it blows". First thing I did after purchase was to call B & D Volvo Auto Parts to price a good used turbo engine. But the service rep told me "I'd drive it till it blows". That was enough for me to drive it, but it hasn't blown yet. I change oil every 3 months regardless of mileage. Piston slap is still there, but it doesn't burn oil, gets great mileage, and my mechanic tells me that with lowered compression, there is no reason not to feed it regular unleaded gas.
I commute about 50 miles a day round trip, all on local roads in the "megalopolis" of southern New England, and the 760 just keeps on ticking (literally).
The body on the 760 is much less rust prone than any of the dozen or so 240s I have owned. My 760 came with all t he service records from the ast two owners, and none of the records indicate any work having to be done with the turbo, so, who will be surprised if that needs attention. But, so far, so good.
One bonus is that 760s came loaded, and of course the downside is that all the goodies will wear out with time. Like the electric controlled driver's seat (its good it was stuck in a position that I can use), the air conditioner (I've never had an older Volvo with decent AC anyway). Or the window relays in which passenger front only goes down from master control and only goes up at the passenger door control. Maybe just needs a good cleaning when I've got the time. So, all in all, as long as the car keeps rolling (a Volvo pun), and the sunroof works OK, I'm OK.
All in all, for comfort, performance and reliability, the old 760 is the best car I've owned, even including a 95 940 that my wife drives.
Hope this helps.
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