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Threre are two types of oxygen sensors used in the 240, depending on which year it was built and which ignition system it uses. Engines equipped with CIS, LH 2.0 and LH 2.2 ingnition systems use a sigle wire oxygen sensor LOCATED IN THE EXHAUST MANIFOLD. This type of sensor has to be replaced every 30.000 miles or 24 months whichever comes first.
Models with LH 2.4 and 3.1 ignition systems use a three (or multi)-wire oxygen sensor and heater located further down near the catalytic converter. This type should be replaced every 50.000 miles. So you could look after the position of the sensor in order to decide which kind of sensor you need. Or you look up the production year of your car and ask a dealer which type of sensor you need.
P.S. My car was built in 1989 and itsī sensor is located at the catalytic converter.
The most important maintenace on a 240 with high mileage is the timing belt. It HAS TO be replaced every 45.000 miles!!! If this belt breaks your engine is going to break also. So if you don`t have any maintenance records you should change, or since this is quite a delicate job, let a shop change the timing belt.
Moreover the oil changing intervals are also quite important - like on any other car too. Normally the engine oil and the filter should be changed roundabout every 3.000 - 4.000 miles.
Every 30.000 miles you should change or check the manual/automatic transmission and the differential lubricant. According to the 240 owner`s manual itīs not necessary to change these lubricants, but it would be better to do it frequently in order to prevent any damage to the components - this is also quite an easy job. It may only be a little harder to remove the bolts of the drain plugs and it would be helpful to have a second person who assists you with this job.
I hope that helps you a little bit -- have a nice day
Greetings -- M.P.
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