Unless you are willing to do the work to fix it up yourself, it's not worth it. I know I would not buy it for $2500 in that condition. Somebody like tech probably would though, cause he would do the work himself.

 

The thing that worried me the most were the Check Engine light (at 129k miles), the ABS and Traction Control lights. Also whenever I pressed the brakes - another light on the dash turned itself on.

One question though - how hard is the suspension supposed to be on a 850R? I wasn't very impressed by this one, it felt a bit Cadillac-ish, I though I was driving a boat, when I tried to steer more vigorously.

 

Most likely the worn out shocks/struts caused the ride.
If it was a dealer...they should be able to tell you what the codes are for the CEL.

 

Unless they will sell that one for about $1500, do not buy that car. You can get a decent one for what you would probably tie up in that one. If it's in that bad a shape it probably has not been well maintained at all. If it was a yellow one, you might want to get it and fix it up, but black ones are not that hard to find. Keep watching Volvospeed.com for one for sale there. I would rather travel some distance and get a decent car instead of buying something relatively close that is pretty bad shape. Just my opinion though.