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Excellent information has been posted so far. I'll add one little bit of information that will help you identify the Idle Air Control Valve (aka: Constant Idle Speed motor) unit that you have in your vehicle, and also help you in locating a replacement (used) unit from the other vehicles it was shared with.
This should be a complete listing of IAC Valve part numbers and the years that they were used in the 240 cars (and a few 740/760 vehicles). For simplicity sake all 4 of the IAC valves have the part number 0 280 140 ###, and I will list only the last 3 digits. (500, 501, 520, 516)
Bosch 500: 240 '81-'82 and 240 Turbo '81-'83.
Bosch 501: 240/740 '83 through April,'87, also 240/740 Turbo '84 through April,'87.
Bosch 520: 240/700 May,'87 through all of 1988.
Bosch 516: Most late model 240 and 700/900 vehicles with LH 2.4 & 3.1 Fuel Injection (1989+). Note, many late model turbo vehicles still use the 520 (I own one of these such vehicles).
The Bosch 520 was slowly replaced by the 516, and I would list more specific dates, but my information is somewhat limited. The dates listed for the 516 in the IPD catalog seem to be incorrect in many cases and I think they may have mixed up the 516 and 520 in several of their listings. -I have seen evidence of this on several occasions.
FYI, if you are in need of either a Bosch 501 or a 520, be advised that these units are interchangeable. The 520 replaced the 501, but they are essentially the exact same unit. Volvo doesn't carry the older 501 units anymore, but they'll happily give you the new 520 to replace your 501 when you order a replacement part. For the sake of completeness, the Volvo part number for the old 501 unit was 1317957-7, and the new 520 part number is 3517067. When you try to enter the old 501 part number into a VADIS database to order the part, it will automatically change into the new 520 part number.
For identification purposes, the 501 and 520 units look identical and you can see a picture of one on page 41 of your Fall-2003 IPD catalog (looks like a silver "T"). The Bosch 500 units somewhat resemble a large Ice Pick, and the late model 516 units look similar to the 501/520 units, but the valve assembly is different and makes a 90-degree angle turn between the inlet and outlet ports.
God bless,
Fitz Fitzgerald.
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'87 Blue 245, NA 231K
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