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Hello Jeremy
Nice to have another Aussie on board and a young one too. Not many teens are interested in Volvos which is a real shame. Anyway, I'm probably a bit biased but I suggest a 940. For your budget you should get a nice one. Mine is a 1991 model and it has been great but the later the model you can go for the better. 93-on models were very nice indeed and benefit from almost 2 decades worth of development engine-wise.
93-on will have the 'squirter' block which basically means extra oiling for the pistons/bores. This eliminates the problem of piston slap when cold which was common (but not necessarily detrimental) on earlier models (mine has had it for over 80K kilometres and still goes fine). They will also have SIPS - Side Impact Protection System but not side airbags but will have a driver's airbag.
Avoid the B234 engine (basically a twin-cam B230) as if the timing belt breaks you can all but kiss goodbye to the engine. At the very least you'll need a head rebuild.
The last 940 in Australia was the 940S light-pressure turbo estate in 1996. Might be a bit out your budget though.
All of your criteria (comfort, noise supression etc) can be satisfied by a 940. They are just as easy as a 240 to work on (except the distributor cap which can be a bit tricky first time) and are more refined than a 240. Having said that, a 240 will some 'character' that a 940 might not.
Good luck in your search. Please feel free to ask as many questions as you like. Hope this helps.
Brad
91 940GL
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