I have a 95 940 turbo, it's absolutely the MOST reliable car I've ever owned!
Gas mileage is just OK at 25, but the car is very solid and has an amazingly tight turning radius! Acceleration is great, and the seats are very comfortable.
Overall I cannot complain, she has 180,000 miles and running strong, no oil leaks whatsoever and no rust at all. The factory stereo system is great sounding as well.
Safe, reliable and fast. Volvo's are THE best kept secret in the used car world!
I owned a 93 940 Turbo, which is a jewel. TURBO MOTORS ARE superbly strong, hard throttle equals a bright smile. At 89,000miles, I paid $500. Discovered previous owner did a recent timing belt/water pump replacement. Leather seats are still plushy with no damages. VERY RELIABLE.
If you are experiencing a starting/charging problem, check the positive battery wiring terminals for corrosion.
I have a '91 940SE sedan. Got it at 225k miles, and now have 420k. I have come across numerous repairs that I was able to find; hope they help you.
Car not starting - fuel pump relay, fuel tank pump, fuel pump under driver's seat & fuse (my fuse link broke, but didn't blow, and would make contact now and then - rare case).
Car dies and battery goes low - Instrument cluster has a bad solder somewhere. Have to accelerate the engine in idle to 4500 rpm, and the alternator will charge the battery.
Climate control not holding temperature - if you leave your door open too long or have the dome light on while driving, it heats up the thermistor in the dome light and gives the climate control the wrong reading, and it would want to cool the cabin down.
Radiator is only a 2 row - for a turbo a bigger one is needed. I believe if you use an '87 240 radiator, those have a 3 roll core; keeps the car from over heating.
Rough idle - remove hose at throttle body and use a throttle body cleaner to remove all the gunk build up. Hold open the throttle body plate and wipe it down; makes a big difference.
Sunroof not working - can be the motor, but in my case it was a bad switch on the dash.
Windows not working using the button on the door, but will work from driver's controls. Can be bad contacts in the switch at the door.
Turbo intake hoses - check all hoses from the turbo to the throttle body. If any are soft, they need to be changed. Check clamps.