I am now 17 and I bought my Volvo last year for $700. The poor thing had been neglected by its former owner and only had 78,000 miles (not bad for a 22 year old). It's a little heavy to be considered a speed demon, but since it is a manual transmission, it is endlessy fun to drive. The clutch is solid, and the engine roars like a thoroughbred. I've driven the automatic DLs and they are seriously sluggish compared to the manuals.
I've put a lot of money into it in the last year, but most of it was just catching up on the maintenance.
The one complaint I have about it was that it looked pretty worn when I got it. The paint had oxidized (long ago) and it had been sitting in the sun for about 10 years so the inside was a bit faded. But since then I've gotten it painted, had it detailed, and decked it out with a nice stereo and now it is the ultimate cruising machine.
I love my Volvo very much, and I expect to drive it into the ground. I hope by then I will have enough money to buy a new Volvo.