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Flickering Oil Pressure Light 700 1991

I guess I have bought the car from hell. It is a beautiful (cosmetically) '91 745T that has many mechanical problems. My indy mechanic analyzed it and felt a head gasket replacement was necessary. We also replaced the fuel pressure regulator, the engine coolant temp sensor, the plug wires, the RPM sensor, a fuel injector, the radio suppression relay, the fuel injector relay, it had a valve job at the machine shop, and there are a variety of other things I forgot to mention. So, it runs now, smoothly, and has plenty of power, etc., but the oil light flickers at idle after the car is hot. According to my search of the archives it sounds like it might be (1) the wire to the oil pressure sensor (less likely on cars of this age), (2) the oil pump is dying or at least sick.

Doing the repair described in the FAQ (replacing the oil pump) would be a pretty huge step for me, but I already have spent more than I care to tell you on a car I bought for $3400, and I don't want to sink more into it.

On top of that, the darned thing is cosmetically just about perfect - no rust, beautiful interior, no cracks on dash, no sagging headliner, shiny red wagon...and I allowed that outward evidence to convince me to buy it. It has 158k miles and only service records for the first 60 - that will teach me: NEVER BUY A CAR WITHOUT SERVICE RECORDS. By contrast, my '86 740 GLE which I have had since 1999 with NO PROBLEMS (currently about to hit 170k) has service records for the whole life of the car, everything according to Volvo recommendations (oil change every 5k, etc.).

Wah wah wah - I don't mean to whine here, but I am really in a funk about what to do next. Oil pump replacement or repair? Any ideas, folks? Thanks for the help.

Oh yeah, btw, this cosmetically perfect car was borrowed by my lovely 19 year old daughter yesterday to take stuff to Salvation Army and guess what? She backed it into a parked truck and the tail gate now sports a nice 10" dent. Brother. I am ready to go and lease a new Toyota. Problem is, this car wouldn't get me anything in trade and I have spent all my money on fixing it. So I am stuck with it! Sorry to go on and on. Thanks for listening.
--
Darius in Albany NY '86 744 GLE, 91 745T






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