Hi, everyone.

I know there's no definitive answer to this question, but I'm hoping some of you might be willing to share thoughts, opinions, or experiences.

I'm shopping for an older wagon from a local service center that's accepted my beloved XC90 as a trade-in. (I'm still in pain, so let's not go there). For logistic reasons, I need to choose between one of the following two cars between now and the beginning of next week.

1.) A 1992 740 GL with 250,000 miles, at a cost to me of $0 after trade-in (listed for $3,695 here: 1992 Volvo 740 Series GL For Sale In Austin TX - Austin Vol - Tech Services INC

2.) A 1998 V70 Base Model with 155,000 miles, at a cost to me of $950 after trade-in (listed for $4995 here: 1998 Volvo V70 Base For Sale In Austin TX - Austin Vol - Tech Services INC)

Both cars are in great condition for their age, well maintained, and have excellent CarFax reports. Based on the reports and my conversations at the mechanic's, I'm 95% certain neither's had any major transmission work, and I'm 99% certain neither's received an engine rebuild or replacement. (Unfortunately, I didn't realize I should make a point to ask about these things until after the shop closed).

I am very, very stretched financially right now (obviously, or I'd be looking at much newer/lower mileage Volvos), and spending $950 on the V70 would require some extreme financial sacrifices/reshuffling. However, also I need to use my "new" car within the next couple of weeks to make a trip from Austin to Nebraska, and the prospect of racking up significant mileage quickly has led me to wonder how I should be estimating the shorter-term (i.e., 3 months to a year) costs of saving money now and going with the 1992 740.

In other words, I understand neither car's going to last me long without some expense and that the resale value of both will be next to nothing two or three years from now. (I like the idea of holding onto whichever one I get instead of trading it, anyway, so this is fine). I also trust that the mechanic/dealer I'm working with won't sell me something that's going to break down immediately.

What I don't know is how to make a remotely educated guess about whether spending $1,000 for the V70 now has any potential to save me (someone who, alas, has NOT mastered the art of working on her own car) money over the course of the next 3-12 months and/or substantially reduces my risk of becoming stranded with a broken-down car in the Texas heat the summer.

Again, I get that there's no way to predict the future. However, I imagine more experienced/knowledgeable Volvo fans have better ways of approaching a decision like this than I do.

Or not.

Either way, I'd be grateful for any reactions, thoughts, words of advice, warnings, etc.

Thanks for reading...and even more thanks for replying.

p.s. FWIW, I'd also love to have a better sense about whether there are other advantages that might not be obvious to me of owning a 1992 740 instead of a 1998 V70, or vice versa. It seems like owners love both of them, but I haven't been able to find any instances in which the two are compared to one another directly. I'm not experienced enough with cars, let alone Volvos, to feel completely comfortable making my own inferences, so it would be great to get input if anyone wants to take a stab.

 

If you are looking for low maintenance and lower compare cost, go with the 740. The motor is made to last 1,000,000 miles where as the V70 motor is more like a 500,000 mile car.

Volvo had much more experience with RWD cars at that point and those 740's are more durable.

IMO the 740 is way overpriced and you'll never get that kind of money back. Just to old.

 

Thanks for the votes, everyone, and thanks for the reply, rspi!

Seems like 740 would have lower maintenance costs and has the potential to keep going for quite a while. (I don't tend to freak out too much about mileage when it comes to older Volvos, but 250,000 does seem like a lot to start out with, so I wanted to run it by you all).

On the price/s, yes, this particular shop's known for pretty high markups. In fact, if you look at the reviews on Yelp for Vol-Tech in Austin, you'll see that people mention it over and over. The argument for paying them more, evidently, is that they put a lot of work into restoring the cars to as close to perfection as they can, and then they remain willing to fix little and big stuff for you for a while after you drive off. I've been struggling with whether this is worth it or not, but

1.) I do know they have many loyal customers/get a lot of repeat business,

2.) I'm aware that I'm not enough of a DIY mechanic to handle a "fixer-upper" (at all), and,

3.) most important, sadly, I really don't think I've got the time, resources, and energy to shop around for a trade that'll get me into an up-and-running Volvo for $0-$1000 this week. (If anyone would like a 2006 XC90 with a blown head gasket, along with a 1996 Mercedes C280 w/ 97,000 miles that needs a new fuel pump, filter, and 4 new tires just to get running AND has a Volvo with better specs than the 740 or V70 they'd be willing to offer me in return AND can help me w/ transporting the cars AND can complete the trade within the next 2-3 days, be sure and let me know! )

Just 2 follow-up questions, if anyone's still reading:
1.) You DO think a well-maintained 740 with 250,000 miles on it is reasonably safe to take to Nebraska and back (more than once, I'm imagining) without too high a likelihood of becoming stranded in the middle of nowhere? Just not sure how many people with super-high mileage Volvos (or cars, for the matter) try to use them for long-distance road travel.

2.) I'll be using the car to drive a 3-year-old around town and for short-ish road trips (3 hrs or less). Does this change things at all, do you think, in terms of the decision-making process? In other words, are the safety features, and the lower mileage, on the 1998 V70 important enough for transporting kids that I should go with it?

Again, really appreciate the input. Any other thoughts much appreciated.

 

Well, the 740 I sold a few years ago had over 400,000 on it and it still ran great and looked near new. I would NOT hesitate to drive it 1,000 miles per day in any direction. Only cut out on my twice. When the battery died and when the fuel pump sending unit was damaged. To me, anything less than 200,000 is not high mileage and real high mileage starts at 300,000.

Volvo 740 GLE - 1987

 

I would take a rear wheel drive era Volvo over a newer one any day. They seem to be the more reliable ones and easier to work on. I've got 242,000 on my 960 and she doesn't even burn oil and is solid going down the road. Once I get the struts and shocks replaced, you would not be able to tell it is a high mileage car.

 

I wanted to thank everyone again for the incredibly helpful replies and send a short update.

I went into the shop feeling excited about the 92 740 and like I knew what I was doing, and that was wonderful. Alas, I missed out on the 740 (it evidently sold that afternoon) and had no choice but to go with the 1998 V70.

Luckily, it's beautiful, and it's worked out great. I just drove it from Texas to Nebraska and back without a problem. In fact, we bonded quite nicely on the trip, and I think we'll have a great long-term relationship.

Will be spending a lot of time on the forums from now on, learning how to care for/outfit it. First stop: trailer hitches!

Once more, many thanks to you all!