Faults:

Paint wore out, got another paint job a few years back.

Speakers are going (original)

Seats are starting to lose lower support. Noticable after driving for a while.

General Comments:

It's a wagon. The car is a BEAST!! The turbo really makes a huge difference when climbing hills and getting on the freeway. On colder mornings, it sputters when starting, and you have to rev it up to about 2,000 rpm's for a good 20 seconds to get the fuel injection to function properly, but its expected and typical for a car going on 30 years old. The turbo 4cylinder engine does not get as good gas milege as the normal engine. Gets about 20-22 freeway without digging your foot into the pedal. The turning radius is AMAZING for such a long and narrow station wagon. Can turn on a dime. I have a lot of faith in this car, and plan on having it for at LEAST another 100k miles. HIGHLY recommended.

Faults:

When purchased, the alternator and battery both needed replacing.

Driver's seat upholstery was torn when purchased.

Driver's side lower spring seat broke at approximately 365,000 km.

High speed on windshield wipers only works intermittently (low speed always works fine).

Car has significant rust in the wheel wells, and the spare tire well is completely rusted through.

General Comments:

This is our fourth Volvo 240 series. It has been a bargain for a car costing only $275.

We have carried many huge loads with it (including a complete Ford six engine) with absolutely no problems whatsoever.

The car starts the first try, every time, without being plugged in during our frigid (-30C) winters.

The seats are extremely comfortable, I have driven 900 km in a single go with no back pain or numbing of the behind.

Even at its high mileage the car has lots of power and overtakes other cars effortlessly on the highway.

Fuel economy is consistently 25 mpg, regardless of the load carried.

My only real complaint is that running without a load interior noise levels are very high to the point of rendering conversation impossible.

The best feature is ease of repair, everything is easy to get at and parts are readily available (and inexpensive) through chain stores or at the wrecking yard. Most jobs can be accomplished with patience and a simple metric socket and wrench set.