I keep talking about it...have asked this question before, but it's a new year...and as yet, never pulled the trigger. Time to move on from my '95 850. It runs fine, but at 200,000...it's losing power and, you know, it's just time!
I need a wagon...given $20,000...what Volvo wagon has the least problems? I am done with pre-2000 cars. I want all the safety and handling of a 'newer' car. I thought of going to the dealer to get a 'pre-owned', thus the warranty...it would be nice to be safe for a few years against repair bills.
I also considered, gulp, a Subaru...but I can't wrap my head around it.
After having owned (over my 42 years of driving): P-1800, 140, 240, 740, 760, 850, S40...I have gotten used to Volvos.

 

That kind of money should get you a a super clean CPO 2007 V70 2.5T, the last year model of the P2 shape.

 

I agree with jda2000. I have a CPO 2006 V70 2.5T and have had no issues. 2007 should be just as good.

 

For me, I'd look at miles and condition compared to year. A low mileage 04 would be considerably less than an 07, which is already almost 5 yrs old. As long as the 07 doesn't have some deal-breaking feature which the 04 does not, the 04 with low miles would make the most sense to me. Vehicles between 4-8 yrs old can be found with low miles. Not so much when older than that. You are still paying a premium for younger age on a 4-5 yr old vehicle. You are not paying age premium at the 7-8 yr old range. So $$ wise it is more bang for the buck. And with the $$ saved you've warrantied it yourself. Haven't priced these specifically but check it out. In my experience it will be a big difference. Good luck and this is just my humble opinion of finance and depreciation in car buying.