ok so i have the chance to pick a running 740 turbo wagon a 1992. it has 290k and everything is original auto trans motor turbo the guy says it runs well but i am a honda guy so to be honest volvos are very foreign to me. i know some of the basics to look for but i know you guys on here know nuch much more than me... im intending to use this vehicle to carry my friends around and drive back and forth to work... i drive about 30-35 miles a day. i want this car for a couple reasons my only car is a modified s2000 and its going down hill quick i truly need to stop driving her and slowly put her back together... now with this said i dont want 2 cars goin down hill i understand 290k volvo will have problems i know it has a window that doesnt work and a door handle broken but please guide me to things i need to look for as far as running issues you may have experienced or common issues. thanks a ton guys!

 

I'll have to suggest perusing this...
Buying a Used 7xx/9xx

note that a 92 740 wagon is virtually the same as a 92 940, just a bit less optional equipment (my 92 740 turbo wagon has no cruise control, no fog lamps, non-powered seats, while most 92 940 Turbos would likely have at least cruise and powered driver seat). In most ever other respect the cars are totally identical (ok, the 740 has older style horizontal seamed upholstery on the seats, while the 940 had vertical seams.... BFD).

so, I would look at both the 740 and 940 pages there. A 92 Turbo is the B230FT engine, with LH2.4 fuel injection, and the AW71 automatic transmission. It has an onboard diagnostic (OBD) readout that doesnt' use an external code reader, instead, you count blinks on an LED, I'd certainly read it to see if its throwing any codes (mine throws EGR codes fairly frequently and I haven't gotten around to sorting it out as its not prevented either smog or causing any drivability issues)

If you're a do-it-yourselfer, these are great cars. If you're going to rely on a shop for most of the mechanical work, they can get very expensive very fast. That link above has extensive maintenance and diagnostic info specific to these cars.

 

thank you greatly for the info. i will certainly read the codes and take your advise im concerned about the reliability of the trans and turbo being that they have never been replaced should this cause for concern or are they that reliable

 

the AW70/AW71/AW72L automatic transmissions on these volvos (AW71 on a turbo, AW72L on a 16V, AW70 on other B230 engines) are really rugged and reliable as long as they get occasional ATF fluid flush changes and aren't excessively abused. They are essentially Toyota automatics (Aisin is Toyota's transmission factory, the AW7x family is Volvos number for a transmission used in various mid-to-high end Toyotas in the mid-late 80s).

the AW70 in our 240GL went about 300K miles of hard driving before it needed a basic rebuild.

Of course, neglect can negate that.

The turbochargers should last plenty long if the engine is kept up with 5000 mile or so oil changes using the proper weight quality oil, ideally synthetic, and as long as its allowed sufficient warmup and cooldown (eg, on a cold start, don't slam the turbo til the engine has had a chance to warm up, and let the engine cool down by driving gently the last few miles before parking it). Its a fairly common mitsubhish TD04 turbo, readily replaceable with a $400-600 rebuilt turbo if its actually trashed (or much cheaper for a non-rebuilt junkyard part, YMMV, caveat emptor).

 

what type of automatic transmission would you say i have in my 92 240?

 

AW70 or possibly an AW70L (same transmission with a lockup torque converter, but I don't think the 240 ever got the lockup, that was a 940 thing).... if you feel an extra shift after the car is already in overdrive, then you might have the L)

bunch of useful maintenance/service info regarding these
Transmission. Automatic AW70 and ZF