Faults:

Odometer gear; common problem and easy to replace. Don't understand why a little plastic gear costs $15 though.

Water pump (common issue), easy fix with an IPD pump and hoses; a good time to clean up the fan and fan shroud too.

Muffler rusted free from the exhaust; normally this is a $125 repair at a competent garage; I wasn't so lucky, details below.

Overdrive wouldn't engage, bypassed the switch, kickdown still worked well.

Rear shocks were a bit soft.

One of the tires had a bad wall; replaced two tires and put the good ones in the back.

Plastic pan under the engine was missing at purchase; replaced with a junkyard one, then a cheap non-fitting aftermarket one. You're better off just fabricating a metal one yourself. Without a pan, these cars get pretty mediocre highway MPG.

Various interior trim pieces were cracked or missing; replaced with junkyard bits. Door pockets are well known weak spots on these cars.

Aftermarket radio quit.

False overheating readings, temperature compensation board removed and a few wiring tricks done. Common issue on these cars, but the fix is cheap and easy.

Front spoiler cracked in an accident, replaced.

Mechanical thermostat stuck closed, ripped out. Common issue.

General Comments:

Handling's pretty good with communicative steering, and the short narrow wheelbase will feel a bit "old" compared to a Honda, but some better sway bars will fix that.

Most parts are simple to replace and cheap; get used to replacing interior bits if you want to keep your 240 looking perfect.

A good garage will charge you $125 to buy and install new exhaust piping for your 240; a bad garage will charge you $300 for some truly dreadful custom fabricated exhaust.

Highway gas mileage is decent if you have a pan; without, you'll think that you're driving a V8.

A/C could be better, but was bearable. Black paint didn't help when the outside temps were about 90 degrees.

Almost crashed into a deep sewer in a terrible storm, only damaged the front spoiler, thank you ground clearance!

I had the car out in hail that was about the size of a tennis ball, put maybe two tiny dents on the car. Find me a Japanese car from the 90s that can take that kind of punishment without flinching.

Brought on the cheap to flip and see if 240s live up to their reputation; they do, kept the car longer than I had planned due to how reliable it was.

If you want a fun RWD Volvo, get a 240, but if you want a safer daily driver, I highly recommend a 940 instead; the interior and electrical systems are far better designed than the 240.

Faults:

I broke the front brake caliper, my own fault, it's not a drifting car, only 45 bucks and I fixed it myself.

The belt on the tire blew all around the tire when I drove it home, but that would not be the cars fault.

General Comments:

This is my first car. I wanted a Volvo after I realized how much of a safe car they are. Also, I'm in High School and wanted something that wasn't a Honda Civic or Toyota truck.

My experience is great, it gets good gas mileage in my opinion, it's rear drive, which I like for handling.

It needs a trailing arm bushing, an overdrive solenoid bypass and some new paint. The car has held up well. It's dark red, a color that I know oxidizes badly.

Its kind of temperamental, but if you take somewhat care of it, it will take care of you.

The transmission isn't great, but not bad either. It can take a new Jetta off the line.