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And I'll bet the brake fluid in in your 1988 Volvo 240 brake system was quite black and rotten for sometime before the problem developed. It's really best to replace all fluids once you purchase a used vehicle, unless you have records and visual inspection that shows fluid to be topped up and clean. Brake, coolant, transmission, rear differential, we already know engine oil, and other fluids and so on.
Change break fluid every two years. Or, just as it loses the golden, light tan color in the reservoir. Same for coolant, differential fluid, and so forth.
If one wheel bearing show distress or is failing, inspect the corresponding hub on the other side. Use new inner hub seals and a good NLGI-2 grease. How are them rear wheel bearings? They use grease, also.
The brake light, if the brake systems sensor is fine, shows an imbalance between the two brake circuits. You may have some air in one brake circuit, causing the break sensor to react to the imbalance with the corresponding brake systems failure indicator lighted on your dash head.
Using the break pedal to pump new fluid through the dual-circuit brake systems on your 1988 Volvo 240 may not be the best way to do it.
Even with one-way break bleeder nipple at each caliper bleed nozzle, air can draw back into the caliper along the bleeder nipple and brake caliper thread interface. Best to do the pedal brake bleed with two folks. One at the brake, one at the brake caliper.
At the break caliper, close the bleeder nipple as you depress the pedal.
The only other option you have is a gravity bleed. Open the bleeder nipple to drain the old black brake fluid and keep the brake fluid reservoir clean. Gravity bleed is quite gentle and may not force out as much particulates, certainly in the two brake check valves that serve the rear brake calipers.
So, perhaps try the Motiv or like power bleeder. It works.
Someone else may chime in with other suggestions.
Questions?
Hope that helps.
Buttermilk.
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The Volvo 164: The Mightiest of All Volvo Automobiles in Perpetuity
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