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And a follow-on question: 700 1989

Yes, the wiring harness will be different. As well as the engine computer. For the prices they're going for, an 88-89 740 8-valve is a much better choice. Sorry you've already made this purchase, because the history of these 16-V cars, esp in the hands of someone "with very little knowledge of cars" is poor. Timing belts *MUST* be replaced every 40K miles. Oil seals *MUST* be replaced when these are done. The two belts together cost over $200 vs $22 or less for the 8-V car timing belt (which is rated 50K, lasts 100K).
The bill for a repair should the belt break is >$2000. The best thing for this one may be to simply part it out on Ebay or in a trader newspaper. That "good running" head is worth $300 minimum, and much of the other stuff can fetch a decent price. I've worked on a LOT of Volvos... these are NOT the car to give someone with limited resources, and who likely will be dependent on it daily, for work, kids transport etc.
With oil leaks already manifest, I'd say this car's likely to drive another 15-20K TOPS before it needs either the $800 "going-over" or the $2400 top-end engine rebuild.
I'm sorry, I don't like to bad-mouth Volvos but these cars were a mistake and a nightmare to many many people. It's like getting a surprise bank-breaking medical bill if one of these cars breaks a timing belt.
Trade it, sell it, whatever - it's the wrong car to put your friend in.
--
Rob Bareiss, New London, CT 86 244, 87 244, 88 744






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