Replaced: exhaust system, rear hatch lock, new timing belt, alternator, fuel pump, radiator, and rear bumper.
The car was slightly rusty when I bought it, but that quickly turned to major rust over the last 4 years. I live in the Northeast where winters are severe, so I suspect salted roads have contributed heavily to this problem.
Suspension is about to collapse, it seems, but this is likely due to the very poor condition of the driveway where I live (I rent, so I can't easily remedy this!).
These cars are not cheap to fix. Replacement lenses for the lights are astronomically priced. Fortunately, I have the world's best, most honest and decent mechanics who service only Volvos and Saabs, and they've gone out of their way (many, many times) to help me find the cheapest solution (used parts!).
I love this car and am sad to see her go, but she's become too expensive to maintain. I've always felt very safe and comfortable driving this car, and haven't cared a whit that it accelerates about as quickly as an orange. Rear wheel drive has given some difficulty in certain winter scenes, but with good snows it's manageable (whereas my ex's hoity-toity BMW 3 series couldn't spin it's way out of an ice patch if its life depended on it!).
In the immortal words of folksinger Greg Brown: His old Volvo didn't die, it just completely rusted away...
Of course... I AM about to buy a 1993 240. What better endorsement is there?