No recalls performed when purchased. Resulted in a MIL on at 160,000 (no cost).
Coil pack at 180000 (NAPA coil which actually was a Volvo part cost $60).
Replaced strut tops, bearings, a-arms, sway bar links and bushings, ball joints and tie-rods at 200,000 (around $800 in parts, performed the work myself, probably would've been another $800 in labour).
210,000 the nipple from the t-stat housing to the bleeder tank snapped off ($130 for parts, again did my own works).
Boost control solenoid at 215000 (You can drive it when this is bad, but it will nor rev past 3,500 which I don't do normally.)
I have not included regular maintenance items such as oil and filter changes, spark plugs, belts, brakes etc. because these should not be considered "things gone wrong" and should be researched before purchasing.
The 1st time my girlfriend drove this car, she said "Holy s**t this thing is fast" Well, my last vehicle was Chevy p/u with a 4 inch lift and a built 383. My last car was a 535 BMW with an aftermarket turbo and a pretty good list of modifications. So, I find this Volvo to be an average car. It's Achilles heel is it's front wheel drive, which is the worst thing to ever happen to cars. The handling is numb, the car itself is extremely heavy and suffers from apparent, almost scary body lean.
But I will say, for the purpose this car is built for (comfortable highway cruising) it does its job well. The audio system is very good, the seats are almost orthopedic (especially with the warmers on) and the climate control keeps the car at a comfortable temperature. It's not quite as quiet as a Lexus or Mercedes, but the noise levels are more than acceptable.
That said, I've become extremely bored with this car. It blends in with the sea of dull, cookie cutter sedans that flood the roads today. And because of this, I cannot recommend it.
If you are the kind of person who sees a car as a means rather than a way of life, then you may want to consider a Volvo S80. Keep in mind that you must use synthetic oil in the turbo model, plugs and filters are a MUST every 30,000 and atypical of European cars, suspension components are prone to wear. I recommend using IPD sway bar links, as these last the life of the car, whereas the OEM replacements tend to go bad again in 15,000. Brake components must be replaced with OEM parts, or they will squeal loud enough to make your ears bleed.