I own a 2002 v40 and just checked value and availability online. There are maybe 14 nationwide. Why are they so cheap are they that bad? I kind of like mine it's a junker with 34000.miles.

 

Pretty much, yes

 

truth is, Volvo just didn't sell a lot of the V40s. There was a lot of competition for hot hatches and small SUVs - not so much interest in small wagons in the US. In terms of reliability, they are about average. They have some known faults common to the Gen 1 S40s but nothing major. They can last 200K miles when properly maintained so if yours is a junker, its probably because the prior owners didn't take good care of it. My son's daily driver is a 2000 S40 which has been in our family since new. In the past 3 years the only repairs we've done were brakes (wear item), a fuel pressure sensor, an evap purge valve, and plugs/coils/wire harness.