Only annoying problem I have is that my automatic shifter sticks so I have to give it a thump so that I can remove the key from the ignition. Have gone through 3 shifter knobs, but that is the ONLY problem after 9 years and 186,000 miles.
Oh, and yep, my antenna mast also did not extend fully for almost 2 years (even after WD-40) and then it miraculously extended after a good washing by the dealership -- probably accumulated lots of dirt and salt that needed to be cleaned out so try that first. This is an issue with all cars I've owned.
Easily the most reliable (and fastest!) car I have ever owned so I can't corroborate these other posts. I bought my 1998 S70 T5 new in June, 1997 and it is the best car I've owned even after 186,0000 miles. My only gripe is that I'm mentally ready for a new car and this one is still going strong -- even after 3 accidents and after hitting a buck 3 years ago!!
I plan to buy used for my next car because I now travel 150 miles a day to work which hugely depreciates a new car, but I will only consider a dealer demo because of lemon worries. I'm leaning toward Volvo again since I need a fuel efficient car and the Audi A4 is too small and I travel too much to put my wallet through legendary BMW and Mercedes maintenance costs.
The fit and finish on the Volvo are exemplary and the leather and other materials in the car hardly show any wear after almost 10 years of ownership. Whereas my Nissan Maxima leather was splitting after 3 years, the leather on this car is much, much thicker and still looks new. Note that the charcoal shade shows less wear.
I added a factory-installed Volvo amplifier and CD changer at time of purchase since the sound system was uninspiring for a luxury car and it did the trick -- lots of compliments on the sound.
Oh, and yes, dealer maintenance is decidedly not cheap, but Volvo service and parts are much cheaper than BMW, Audi and MB. I'm hurting because I travel over 35,000 miles a year and scheduled maintenance rears its ugly head every other month or so, but the upside is that my car is in superb condition and has no problems. I also still get a Volvo loaner with every service even after 9 years and I can't say enough for my Volvo dealership.
If you've had no real problems other than that shifter over 180K miles, I have only one piece of advice for you: KEEP IT. Obviously, your car was built with parts when absolutely nothing was amiss at the suppliers -- all the jigs and soldering irons were aligned, the metals and rubbers and soldering lead were of the perfect mix, none of the workers were drunk, inattentive, or otherwise let faulty parts go.
Car parts are designed by engineers to all come together and work faultlessly regardless of brand. Problem is, car makers don't make all the parts -- most of their parts from rubber gaskets to hoses to electronic sensors to computer modules, are all bought of suppliers -- whose workers may not have the same attitude as is ideal, nor may their QC be consistent.
Keep your Volvo. Have the auto tranny overhauled, if you really need to have the engine overhauled, but keep it.