Faults:

At 280000 Miles, fuel problem. Replace Fuel filter, fuel pump, in tank fuel pump.

Low 200000 miles, electrical problem (not as bad as the 760 series)

Sunroof was stuck closed un-evenly. On both 740 and 760.

General Comments:

I love these Volvos! Owned 3 so far. Still have my 740 with B-230F engine non-turbo as well as 760 Turbo!

B-230 F engine are bullet proof. This engine will go and never stop. It is so bullet proof, when I broke my timing belt, it doesn't have any effect on the engine :) The car continued to run again.

Major headache is the electrical.

Kept getting problem with electrical both on 740 or 760.

These are very reliable car and very comfortable..But just beware of the electrical problem.

Faults:

The waste gate on the turbocharger went when I first got the car, the exhaust manifold was totally worn through creating a cool, but annoying sound, the headliner was mangled as expected, air conditioning didn't work at all and general condition of the car was fair at best. I had to replace the front rotors and calipers due to malfunction that caused dragging and totally destroyed the brakes. Anti-freeze leak, Oil is being lost somewhere, heater core blew out.

General Comments:

The car was fine when I got it, the turbo actually worked then it stopped. the exhaust leak was a chore to fix, but no problem and the turbo was a different story. I bought a refurbished unit and it still didn't work. the car has been OK, but it seems every month or so something goes wrong. volvo's have notoriously terrible brakes so I went all out and blew 600 dollars on all new rotors and calipers for the front end. then the heater core went and on my way home from school the anti freeze line into the heating system cracked and the car overheated. with this incident I assume that the engine block either warped or cracked which is why I am losing a quart of oil every week and constantly have no anti freeze. I love the car to death I just really can't afford to keep it on the road..

Faults:

The A/C hadn't properly worked since I had the car, and I figured it would need serious maintenance; however, I had it charged this week, and now it works PERFECTLY fine.

Sunroof will not close properly.

Cracked dashboard.

The car has had some minor exhaust problems. Replaced muffler at about 135000 miles. The 740 will probably require additional exhaust maintenance.

Driver's leather seat is badly worn.

I had the roof lining re-upholstered at about 130000 miles, because the factory lining was not very durable, and was sagging so badly that it was blocking the view out of the rear window.

Minor leaks in the trunk.

Several minor problems with steering (car pulls to the left or right sometimes, and even though that problem had been fixed, the car tends to understeer (front end loses traction), and the steering wheel often "shimmies").

General Comments:

This car is one of the most dependable and durable automobiles I have ever driven, let alone ridden in. It requires less service than most cars I have had experience.

This car has so much character, and it makes me so happy that I will probably drive it until the engine drops out of it (after that I'll probably get a new engine for it, and drive it for another 300,000 miles!).

It is in no way a fast car or a flashy car, but it gets you where you want to go with no complaints.

I have taken my 740 on 300+ mile drives in all kinds of weather, and it has not let me down yet.

It is an extremely safe car, due to its excellent construction.

It generally gives a very pleasant, worry-free ride.

Other than basic maintenance, the 740 will give you very few, if any, problems throughout its lifetime.