Faults:

When purchased, the car required the following (all prices include labor):

Stage 0 tune-up ($15, did it with help from my family).

New passenger control arm, bearings re-packed, and wheel studs ($300).

New driver's side strut ($400).

New tires all around (brought a used set for $100).

New piece of exhaust ($100).

Rear wiring to the hatch had cracked; fixed with a piece of wire that caused the "bulb out" warning to display when the brakes are pushed, worked fine otherwise (free).

Used wiper motor, installed in the garage ($20).

Over the course of several months:

Countless bits of trim ($20, installed myself).

Fuel pressure regulator ($50, installed myself).

New flame trap, various engine hoses ($13, did them myself).

Speedometer and tachometer inoperative, previous owner BBQ'd the unit somehow. Replaced with a new speedometer ($50, installed myself), tachometer had 149k on it.

New battery ($80, installed myself).

From purchase the car would stall out upon starting unless if you applied gas for a minute. I removed the instrument cluster, and checked the wiring. Somehow I inexplicably fixed this. Afterwards the car started no matter what (free).

Cruise control wouldn't work; adjusting the wiring fixed it (free).

Aftermarket radio inoperative along with 3 speakers in the car, radio fixed by adjusting the wiring, and a used $10 set of old speakers.

Rear wiper and windshield squirters never worked, didn't bother to fix.

Interior cracked above the dash and little age-related issues.

General Comments:

This might sound like a lot of work, but I did only pay $700 for the car; surprising it needed so much with just 108k on the odometer (real mileage was probably 122k); total cost of ownership was $1858.

The car never had anything go wrong with it once I fixed everything; it was reliable and would run all day. Surprisingly it had no leaks other than a tiny oil leak above the engine.

Gas mileage was an acceptable 28 MPG highway given the car's age and tank-like aerodynamics. Seemed slightly better than a '92 Volvo 240 sedan I had at one point; probably the longer gear ratios.

Handling was less "direct" than what you get on a 240 sedan, but both cars are kinda boaty until you start replacing bushings and struts. You really can't judge a car's handling based on a battered old example.

The car was pretty quiet on the highway, more so than my sedan. The steering can be a little too precise at higher speeds, coupled with the boxy body.

Be it sedan, wagon, coupe, whatever body style you get, Volvo 240s don't exactly have a measurable 0-60 time, you just hammer the gas and hope the car agrees with you.

Perhaps the strangest part of the car's performance is the brakes; the car's slow to get up to speed but quick to stop, despite the old tires and brakes. It's been said you can install Mazda RX-7 brakes if you really need extra stopping power.

The interior space was good, well it was after I threw out the driver's door pocket. These tend to crack thanks to a huge "box" at the end where your feet go. Earlier Volvos never had these (just a small leather pocket), later 240s got this and it's clear Volvo was new to the concept of plastic storage spaces.

Ride was soft on a good road, rough and truck-like on anything else thanks to the primitive suspension.

Rear-storage space was terrific; just remember to pull up the front seats before you fold up the back.

If you need cup holders, I recommend finding an early 90s Taurus/Sable, pryout the little cupholder-coin storage box. Saw off the little bump underneath, then simply insert it into the Volvo's blank space under the ashtray. Does NOT require any drilling, cutting up your car, or anything else. Fits tight enough to not slip out.

Compared to my '96 850, this 240 was far more primitive, but the interior and exterior paint quality were a bit better. Namely, the headliner wasn't sagging, the seats weren't cracked, and it was MUCH easier to take the interior apart.

Good tough car if you don't mind cheap interior plastics, wonky electrics, and aren't in a hurry.

With 240s becoming "classics", expect to see less and less in the junkyard and higher prices. If you want a cheap Volvo, get a 740/940; they aren't as good for modding (handling's more clumsy), but out on the streets they're cheaper and designed much better than the 240.

They're different, heavily dated, perhaps some of the most crude cars sold in 1990, but they will get you to your destination.

Just make sure you have a spare fuel pump relay.

Faults:

After buying it, I had to fix many things that weren't very hard to do. Even if this list shows a lot of fixes, I'm proud to say that I fixed mostly all of them myself, without even setting foot on the dealership lot.

Interior/electrical:

Odometer froze at 193000 miles, but after talking to a few other owners who've had theirs break at 170000, it's a predictable problem.

Had to replace the battery that was made around the early 2000's.

Pieced broken center console back together (it's predictable for 23 year old plastic).

Passenger seat wobbles a little and can't be adjusted.

Fixed a open short in the horn.

Short in one of the speakers.

Needs a front end alignment, and the tires need to be rotated and balanced.

Engine:

Replaced the spark plugs.

Replaced the spark plug wires.

Replaced the air filter.

Changed the oil.

Going to do a rear end flush, a transmission flush, and a radiator flush when I can.

General Comments:

I came across this car at the end of 2012, after the daughter of a woman who was retired was selling it for her, because she didn't need it for driving anymore.

I consulted one of my relatives who used to sell Volvo's from the early 60's to the early 70's, and he basically said "In Switzerland where they were made, they aren't bought, they're handed down. Buy it, it's still got some more miles left on it".

So I bought this car to commute in for a very low price of 500, because it had been sitting under a carport for the last few years. It has a little bit of a slow takeoff, but it has no problem getting on the highway. Gas mileage on this brick-like tank isn't very great, especially for a car with a four cylinder with only 12 gallons to the gas tank, but I can't complain for something this old.

It has never died on me in drive or in park, nor refused to start despite its young age of 23 years. If I haven't mentioned it already, everything that was wrong with the car was not out of my ability (I am not a mechanic).

When I discuss the car with my friends, they don't believe me and usually say "ugh.. a Volvo?" until they see it. When they finally see it, they love the way it looks and how "Fancy" it is compared to their newer cars, that usually cost more and are sometimes in the shop.

I love the car, and I would take it on a long trip because:

- It's comfy.

- It's roomy.

- It has plenty of trunk space.

- It takes bumps pretty good, despite its age.

- It's built like a tank.

- It's reliable.

- It even has seat warmers THAT STILL WORK.

You would have to pull a cash-4-clunkers (salt/sand water in place of engine oil) on it for it to actually die. I would recommend a Volvo 240 from this time era hands down, despite its age. Buy one if you need a dependable car. I wouldn't settle for a different car in this price range and age.