Problems have included:
1. Brake master cylinder - $100.00.
2. Timing belt - 15.00 - luckily it's not a clearance engine (mechanic bartered for install $$$).
3. Entire engine wiring harness - harness ALONE $400.00 on the web ($250.00 more for mechanic to install - no odometer since).
4. Water pump grenaded into radiator - 200.00 for water pump, radiator, fan, clutch, labor.
5. Automatic trans has NEVER shifted into 4th gear. Replaced relay, no help. I don't have a garage to park it in to remove the trans and bypass the external solenoid.
6. Windshield with more bubbles than a bubble bath.
7. Decrepit leather interior - leather is crispy - see #11 below.
8. Disintegrated door map pockets.
9. Disintegrated front and rear turn signal assemblies (thanks, eBay, or I'd never pass another inspection) - $150.00 so far to replace 3 of 4 assemblies.
10. "Glove box" door plastic "hinge" broke, door crashed to the floor, disintegrated. I now have a "glove hole".
11. Most plastic trim in interior has disintegrated - crispy, like a potato chip. Push on the rear package shelf and watch the chunks break off.
My brick has been a money pit - spent more time parked than on the road in the approximately 4 years I've owned it.
My local Volvo dealer refuses to service it: "Our computer doesn't go back that far"...
When operational, it runs well enough. Even without 4th gear, it gets roughly 30 MPG at 65 MPH. Doesn't leak oil, decent handling and braking. Interior and exterior (paint) have not held up well under southwest sun and heat.
If you think these are cheap/easy to service yourself, either you are a mechanic or you have a very well equipped, heated garage.
In short: For a "luxury" car, it is an expensive piece of crap. Any car will go 500,000 miles if you throw enough money at it. I owned a 1975 International Scout II (160,000 miles when I sold it) - I'd trade in a minute. The Scout was crude, rode like a buckboard, and got only 15 MPG, but except for 1 busted shock, it NEVER broke - even with all of the off-roading I did with it. I'd compare it to a 1988 Chevy Corsica I owned - another money pit, but the Corsica cost 40% less new, and mine had a V-6 that ran strong (until that deer customized the front end and trashed the motor (crankcase suddenly full of water...).