I have a 2013 s60 T5 that I have owned for about two years. It has 83,000 miles on it, I have put on about 18,000 of those.
The car had a number of problems that the original owner had Volvo fix (more then I knew when I bought it). It had the engine rebuilt at 40,000 miles due to bad piston rings. It also had many front end problems fixed, including new struts and control arms.
I am not thrilled with the handling of the car, it feels like it has a lot of oversteer especially when you turn the wheel all the way. I just replaced the struts and shocks again. Last week I got a check engine light and a 'whistling' sound. It ended up to be the PCV breather system, $550 later I am up and running OK.
As I read about that problem I saw a lot of people talking about seized engines in these cars at around 80-90k models. With all the problems this car has had I am considering trading it in right now. Anybody with any thoughts about this? Any other thoughts on the long term reliability of this car?

 

I have 119,000 km and change on mine. Less mileage than you. Have not had the same experiences (yet)

 

A Volvo with "oversteer!?" That's not a problem, that's a blessing! They are heavy, and not a WRX. Definetly not a 328i. But way better than a Camry or similar. I find mine drives with a definite front end bias, so understeer, but as long as I keep both hands on the wheel and gas it coming out of a turn, it does pretty good. But if you're over-cooking an entry, good luck, you will slide off the road nose first. My concern would be that the engine was rebuilt. Period. Hopefully they replaced the "small block" so it is possible that it is as good as new. Mine doesn't have a dipstick and I would be freaking out that it's burning oil and I can't check it. If you do your own oil changes and measure what comes out volume wise and it's close to what goes in, then at least you know the rings are tight and not causing exesive blowby that destroyed the pcv... sadly, the bluebook isn't much so the trade in will be painful. Start paying yourself what would be the higher premium of a new car, make a pledge to not repair anything major, and hope for the best! But it sounds like you don't really like the car, maybe you should trust your gut on this one?

 

The PCV is a common problem on never Volvos , in yours the diaphragm in the PCV that failed , it cost around 10 US to fix in parts , but unfortunately it should be removed first as it may need cleaning and normally that is a costly job in most countries. so if you cant do it yourself then better to replace the entire unit (depending on labour charges )
If left alone it will destroy the engine due to pressure forcing oil out from seals and the crank bearing will fail, but due to the loud noise easy to diagnose
PCV in not unique to Volvo its a system to protect the environment by eliminating blow by gasses into the atmosphere , but volvo ones are poor , they get rid of the gasses 100% but dont last and in the newer cars after around 2004 they decided that they will make it difficult to remove by incorporating it with the oil filter assembly
On our S40 T5 it has been replaced 2 times in 15 years , but the car is a spare one and only done 125k(kilometers)
We replaced the front dampers at around 80k but did not go for original we used Koni yellow adjustable much better and cheaper (in RSA) that the factory ones and they work great
So no worries you have fixed the worst problems happy motoring the T5 motor is a good motor , you should be be good for another 50k at least