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A good deal? Maybe! However, you might just be needing all that leftover money for repairs (and then some). That '89 740 GLE will have the infamous B234F 16-valve DOHC engine. Lots of power (roughly equivalent to the B230FT turbo engine), but also potentially expensive maintenance problems. Known problem areas with that engine are failure-prone timing/balance belt drive system (=damaged valves), leaky head gaskets, leaky valve cover gasket, leaky cam shaft seals, failure prone computer ($$$), intake fouling from PCV system, ...
If this is going to be your first Volvo then I'd give it a wide berth. Otherwise, be sure to do *all* your homework on that vehicle including an independent assessment by a qualified mechanic.
Now if you want to convince your parents that a Volvo is the way to go, remind them that:
o Volvo's have always been one of the safest cars on the road (unless they want you out of their will)
o Volvo's are a car you can work on yourself (at least the RWD's) so the lifespan can be greater and the long term cost of ownership can be lower than almost any other car
o Volvo's aren't particularly cool with your drunken, partying types
o Only "sensible" girls would ever be caught on a date in a Volvo (but get a wagon just in case)
-Dave '89 740 GLE B234F
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