3 months away from expiration of warranty (and only 34K miles on car), car's throttle sensor malfunctioned. Immediately after the car was returned to me, it began sticking in Park gear and not coming out of Park... this was never a problem previously. The Volvo dealership informed me that it was from a mysterious sticky substance being spilled down the gear shift and would not be covered by warranty (I do not eat or drink in the car.) Numerous bulbs have gone out - at least 6 in the 1 1/2 year I have had the car. Electric locks malfunction often.
I am scared not to buy the extended warranty given the unreliable track record of this car. The problems it is having as of late are big, expensive ones. The car is comfortable and safe, but this may not be a trade off for the huge inconvenience of it always being in the shop, despite my diligence with scheduled maintenance as recommended by Volvo. My next car will be a Toyota or Lexus, perhaps even a trade in instead of purchasing the extended warranty after hearing what is not covered by Volvo via other comments on this site. Dealership servicepersons are extremely nice - I just wish I didn't know them as well due to the number of problems.
I have a 2002 S-80 with 60,000 miles on it. The fuel filler release button wore out (which the dealer paid for), but other than that runs, looks and drives like new. Easily the most reliable car I have ever owned.
I have the 7 year / 100,000 warranty, which the dealer threw in for free (???), but have not used it.