Faults:

Some faults turned up at vehicle inspection, and I used them to lower the price substantially:

Exhaust needed replacing - fixed.

Windscreen wiper washer not operating - fixed.

Oil leak at transmission - fixed.

Prop shaft centre bearing carrier rubber was worn, causing vibration on acceleration (new $900), 2nd hand $100.

Rear shock absorbers worn - new replacement.

Badly worn timing belt & 2 seals - New belt 80,000km use.

Wheels wrong size and tyres $150 each - replaced wheels and tyres to standard & front end alignment.

Recently:

(1) Lost gears, replaced shifter swivel pin & extension arm, reset starter inhibitor switch & position rods.

(2) Lost gears, replaced top rod on gear linkage relay unit & reset.

(3) Park lock forced. Car in motion while selecting park (cost $320 to fix). Must stop car before selecting reverse or park with the gear shift!!

Honda's cost $4,000 to replace the park lock!!

General Comments:

This car is a muscle car when the turbo kicks in - unfortunately I have been clocked exceeding the speed limits twice, with fines and demerit points. It is hard to keep an eye on the road and the speedometer at the same time, and the performance needs to be monitored carefully, especially when overtaking slow cars.

The lost gears were due to fair wear and tear, however I did not realise that changing gears from reverse to drive in auto, while the car was in motion, however slight, would cause the parking lock to be forced - causing loss of gears and another tow job.

The car is spacious, leather seats and in good nick for its age. It's great for large families with seats in the back under the rear luggage space carpet for 2, and great for moving furniture & stuff.

Faults:

Nothing serious. However, it is presently sleeping at my friend's house. Yesterday, it would not start, though it is turning over. This is the first time it has broken down. As a preventative measure, after I initially purchased it, I replaced a number of worn and tatty parts with those from the lovely 740 I previously owned.

General Comments:

This is my second 740. My first one was an immaculate looking automatic '86 GLE which unfortunately had gremlins in the electrics. When I decided to get rid of it, this 5 speed '88 model happened to come up. I grabbed it, as these later models have better electrics; also it is VERY unusual to find a manual non-turbo 740 in Australia. While the car drives in a much more spirited and satisfying way than the auto; unfortunately, I have discovered that this car really hasn't been very well looked after. It's interior was very untidy (I replaced it with the gorgeous leather from my other one), which suggests it had had a hard life. And now that I have owned it for three months I have learned more about it. This one rides very rough and there are a few odd mechanical noises coming from beneath the car. So, I will replace the shocks all round and take it from there, I feel this one will be gone soon and that will be the end of my Volvo life. Anyone considering one of these 'simple' 20 year old Volvos, should prepare for the costs of old age. It's time to go Japanese I think.

Update two years on:

I still have this lovely old 740. Sometimes I want to replace it with something cuter and newer, but my love for it seems to be enduring. I have done many things to it over the past couple of years, possibly spending too much money on it in the process, but all in all, it's been a very worthwhile car to own and I don't think she would think of letting me down anymore. Major things repaired have been the heater matrix (now good) and aircon (still bad). I did replace all the shocks too, but it still travels quite harshly, especially compared to my previous 740, although on the highway it is fine. I fitted lovely 205/60 R15 Bridgestone Turanza tyres last year which helped a lot with grip as this manual 740 likes to get up and go!

Faults:

The kickdown cable came loose and the transmission failed, but a basic transmission service was all that was required to fix this.

The instrument panel is failing, one dial at a time - I have a reliable temperature gauge and speedometer. Seriously, though, what else do you need?

After replacing the rotors, the brakes make a noise like a Stuka dive bomber, but I've learned to enjoy the terror this noise inspires in other drivers.

General Comments:

Solid as a rock. Tough as The Rock. They used to crash test these cars by dropping them off a fourteen metre high drydock, nose first onto concrete. The crash test dummies survived.

This car is more comfortable than my living room.

The heating is designed for a country where it snows 3 months of the year, and is like a furnace.

The boot - in fact, the whole interior - is huge. You won't believe how much Ikea you can cram in there.

Other drivers truly fear the Volvo. I don't ask why, I just enjoy it.