I am considering buying a 1998 V70 Turbo, with 117,000 miles. I would appreciate the forum's advice. Problems with this model; what to look for, etc. Thanks.

 

There are about 100 post with the same question so do a search. Also, you can look over the buyers guide in the 850 sticky section.

 

I had tried search, with little helpful results. I did find your buyer's guide--that was very helpful. Thanks.

 

I recently purchased a 99 S70 GLT (turbo) myself, my first Volvo. Some things that I've come across that I wish I'd know when I bought it...
The front suspension, particularly the upper spring seats, go bad, and need to be replaced. You'll know by the squeaky noise you'll hear going over bumps. I found replacements on ebay for $15 a piece.
If it's a turbo'd engine, the crankcase pressure system gets clogged frequently, which can cause oil blow-by in the turbo, which will cause the smoke to come from the exhaust. A simple way to check if it's clogged, pull the dipstick and go for a drive. If you don't get smoke, you've got a clog. Costs about $100 from fcpgroton.com for the parts.
The check engine light comes on for any little thing that goes wrong with the car, I've been told that getting the ecu chipped ($200-300) will pretty much fix this problem, as long as there aren't any real issues with the car to begin with.
I know this isn't everything you'll need to know to make an informed desicion, but it's what I've experienced so far in the two months that I've owned my Volvo so far... hope it helps.

 

As for the PCV system, it is best checked after you drive for a few minutes (warm the car up) then pull the dipstick while it is idling, if you see smoke you DO NEED to have the PCV system serviced.

Just a note to everyone out there looking to purchase a 10+ year old fwd car... The front of the car has a lot of weight, it's old, it carries torque and vibrations... it is going to have worn out parts and need work, no matter what kind of car it is unless it has under 30,000 miles on it.

 

I did a search and was shocked at the lack of results I got after reading this question week after week. I'm going to post a sticky.