Hi all ! I'm new to the site. I have a couple of new cars but I can't play with them so a couple of months ago I purchased ( with the wifes permision) a 1989 740GL Wagon for $300 from an (87y/o woman ) client who can no longer drive. It has ...104,000 miles... no body damage... new brakes and rotors....new exhaust system....new battery... runs great.. having a blast working on an older car again. I've been coming to this site for info since the purchase and It's been very useful .
I think my next move should be to replace the timing belt. Don't know if it's ever been changed. Anyone have an opinion about the belt. Should I change it ? Is it a hard job? ect.....[:'(]

 

Having done it recently on my 240 with the same engine, I can say it is relatively simple. If you buy a good new belt, it should have markings on it that line up with the timing marks on the crank and cam pulleys, which make it a no brainer. This from a guy who can lose tools in a locked room with no furniture... It should be quite easy.

 

It is cake to replace.
http://www.babcox.com/editorial/ic/ic60326.htm

Here is a site with a walk through for Volvo belts. No pics though for the 2.3