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Dylan:
Congrats on your 240 acquisition. I don't have a list, but one important part that should be checked about every other oil change is the flame trap and all of its related hoses and fittings. It's a metal or plastic screen that can build up with carbon deposits, and causes positive pressure to build up in the crankcase. This can cause oil leaks from otherwise good seals. I never knew what a flame trap was until I owned Volvos, so I thought you might benefit from a little advance warning.
The trap is located inside a "Y" fitting. There will be a junction where a 1" hose meets the plastic fitting, then splits to two smaller hoses. It's usually located between intake runners 3 and 4. Disassemble these pieces by hand, remove the plastic or metal screen, and either clean it (sometimes I spray WD40 through it) or replace it if it's really gunked up. Also, follow the smaller vacuum hose to its brass nipple on the intake manifold. Be sure the hose and the nipple are clear. You can remove the nipple with a metric wrench (about 9mm, I think), and clear out the carbon with a small drill bit or similar object.
There's a better description in the 700/900 FAQ section. You can gain a LOT of knowledge there (Thanks again, Steve!), because many of the engine and trans parts are the same between the 4-cylinder 2, 7, and 9 series.
Best of luck as you learn. This board will be invaluable to you.
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Guid ('88 244DL 213k, '89 744T 167k, '92 745 163k)
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