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Ok, just so you know I'm not full of hot air... I was the service manager for an independent Volvo shop here in CT for a few years. I fielded all the calls, got the frantic side-of-the-road calls, etc....
The single main problem with the 89-90 740GLE 16V and the 91 940GLE 16V is that the timing belts are subject to failure. Premature failure. When a belt breaks, it means the pistons keep moving, but the valve train has stopped. This means that *at least* 2 intake valves and 2 exhaust valves hit the pistons and get bent in the valve guides. This is what's called an "interference" engine. The regular B230F and FT (turbo) engines with a single cam and 8-valves, are NOT interference engines. If you break a B230 timing belt, your engine quits running but there's no damage to anything. And the belt is $22 from Volvo, less elsewhere. The belts for the GLE are $120 + $80 or so (2 of them). Plus extra seals, and probably the tensioner.
The timing belt job on this car, including the oil seals (ESSENTIAL!) is probably $500. For a regualr 240 or 740 8-V, it's more like $200. And if the usual things happen, i.e. the cam seals leak, soaking the belt with oil, weakening it, and it breaks at 35K- 45K after replacement, then the repair bill is AT LEAST $2200. That was at our shop- we didn't charge a dime over the machine shop charges for replacing the bent valves and resurfacing the head. IF you do it yourself, you'd probably be able to get out the door for $900 in parts. Maybe.
So anyway, that's why my conclusion that the car is not going to be reliable long-term (maybe not short term either) and if anything happens to it, it's right up there with the value of the car. It's worth what? $1500? $1800 with those miles if it's *really* clean? Maybe on a dealer's lot for $2995- because they'd have to warranty it if it's over $3000.
I just found a good old 88 240 wagon for a friend, cheap enough, and I know with minor, regular maintenance, it's not going to let her down. Even with 230K on the clock. Long term, there are very few engines more trouble-free for basic problems than the B230F. The B234F 16V has been the source of a lot of heartache.
Regards,
Rob
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Rob Bareiss, New London CT ::: 86 244DL, 87 244DL, 88 744GLE, 91 244: 808K total
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