What's this V70 worth? Buying it from a friend
#1
08-01-2019, 10:34 AM
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What's this V70 worth? Buying it from a friend
Hi all, I'm hoping I can gather some feedback regarding the value of a well-used V70 owned by a friend of mine. He needs to get rid of the car, and I am looking for a car for a nephew that is at college. If the car is worth $1500+, I'd rather just help him sell it on craigslist so that it's gone. If it's worth more like $1000 or less, I'd rather just buy it from him and give it to my nephew. My concern is I'm looking to ensure my friend is getting a fair amount of money for his V70. I'm somewhat familiar with the car--my friend isn't really into cars as much as I am so I have sorta been his repairman for little things like headlamp bulb replacements and his consultant on when a rattle or stuff like that needed to be checked out by a real mechanic. And I've occasionally driven it over the last couple of years.
About the V70:
front wheel drive, 2.4 naturally aspirated, 2003 model, 295K miles
Engine runs smooth, no fluid leak spots on the pavement, no visible smoke or vapors nor strange smells from the tailpipe. Burns (and/or maybe leaks) just a little oil--I'd say less than a quart/5000 miles.
All the fluids look healthy (correct color, no cloudiness or anything like that). Other than the oil mentioned above, all other fluids stay at proper levels without adding any.
Transmission was shifting rough last year, but after a fluid flush it went back to normal.
Suspension was rattling quite a bit last year, and that was fixed.
A/C works
Tires and brakes have enough life left
Body is consistent with the miles, ain't pretty but nothing to worry about in this price range and remaining life-expectancy
Car has spent nearly all of its life in Kentucky, which is relatively gentle on cars as far as weather and roads go.
My friend's mother bought this car new and passed it down to him so no strange owners, no unknown harsh locations, no wrecks, etc.
Thanks for any input you can provide regarding its value.
About the V70:
front wheel drive, 2.4 naturally aspirated, 2003 model, 295K miles
Engine runs smooth, no fluid leak spots on the pavement, no visible smoke or vapors nor strange smells from the tailpipe. Burns (and/or maybe leaks) just a little oil--I'd say less than a quart/5000 miles.
All the fluids look healthy (correct color, no cloudiness or anything like that). Other than the oil mentioned above, all other fluids stay at proper levels without adding any.
Transmission was shifting rough last year, but after a fluid flush it went back to normal.
Suspension was rattling quite a bit last year, and that was fixed.
A/C works
Tires and brakes have enough life left
Body is consistent with the miles, ain't pretty but nothing to worry about in this price range and remaining life-expectancy
Car has spent nearly all of its life in Kentucky, which is relatively gentle on cars as far as weather and roads go.
My friend's mother bought this car new and passed it down to him so no strange owners, no unknown harsh locations, no wrecks, etc.
Thanks for any input you can provide regarding its value.
#3
08-10-2019, 09:29 AM
Senior Member
Lots to respond to here. SAVE TIME--DON'T READ THIS POST--BUY THE CAR
First off, while the 2003-2004 did have SOME "bad trannies" it wasn't due to the transmissions themselves.
These units are exceptionally well made.
A computer program add-on called "Stop Neutral" was devised by Ford (they owned Volvo at that time) and it caused wear by making the trans go into N at stop signs and upon stepping on the gas the trans could slam into gear causing wear.
Also, Volvo's assertion that fluid is 'lifetime" (an evil lie to make maintenance costs seem lower on paper) caused many owners to run filthy fluid.
The fluid in this car surely was dirty. You KNOW THAT because a fluid change fixed things up.
No drips on the pavement suggest the PCV system was maintained as internal pressure builds if the PCV is neglected and this causes leaks. That the car has 295K without symptom of internal crankcase pressure means that the oil was changed before it could sludge up and cause the PCV to clog. Even better would be if synthetic oil was used. Are there any maintenance records?
Oil consumption of under a quart in 5,000 miles is NOTHING. In fact, that time frame is long enough for that piddling amount of oil to evaporate.
The other fluids being clear suggests the car was well maintained. Was the brake fluid changed too? Are there any maintenance records?
Suspension parts rattle as they loosen with wear. You say severe rattling was fixed RECENTLY. It's fixed. Are there any repair receipts?
AC works, tires and brakes are within duty cycle. I assume the tires are worn evenly. This essentially proves the vehicle is in good alignment. What brand tires?
Comparatively easy climate...no severe aging...known pedigree. Ask your friends if there are any service records. They make assessing the condition of other things easier.
Find out where they had the car serviced and CONSIDER CONTINUING TO GO THERE. There's a chance they went to the dealership and payed dearly for maintenance. If so, they got the peace of mind AND VALUE of 300K ownership and you'd get the BIG BENEFIT of a good car which is worth owning well into the future.
FYI: I had the same car; a 2002 for 9 years and sold it to the first person who test drove it. It had 198,600 miles. I sold it for $2,500 which was my asking price. I could've asked for more but the car needed a few items and I found and bought my replacement (a 2007) and needed the '02 gone. It only went 4 miles away. You know it was a good car if I sold it to a neighbor.
PONTIFICATION: This car was obviously well cared for so paying some money to YOUR FRIEND is appropriate ESPECIALLY since there was SUSPENSION WORK done so recently AND that you don't have to run off to the tire and brake store right off. If I interpreted your circumstances accurately, you'd be letting a great value slip through your fingers if you don't buy this car.
THING YOU CAN DO: After buying this car immediately after reading this, do the following.
1) Start the engine and do a "glove test"
2) Have the battery load tested.
3) Do a walk around and check all bulbs. If ever a bulb burns out make sure the corresponding bulb on the other side isn't black as matching bulbs are better to have. Consider adding basic bulbs to online parts orders as good sources of parts get better, European spec, bulbs.
4) FCPeuro (the renamed FCPGroton) and eEuroparts are good sources and are run by good people. They stand behind their products. IPD has good stuff too but they are speed and tuning oriented. They're also honest people.
5) You have an easily changed fuel filer ahead of the left rear wheel. If by some fluke the connectors (push-in opposing buttons-pull out filter nipple) break NAPA sells a GREAT repair kit which includes 18" of replacement fuel line for either side of the filter.
6) Do at least one drain & fill to the transmission as the "new fluid" the current owner installed may have had time to free up old dirt. A drain & fill requires 4 quarts of CORRECT FLUID. You'll have some left over. For a while now I've added LubeGard (red bottle) to every transmission fluid service in the recommended 1 oz. per system quart dosage.
7) FYI: The ETM is of the inferior design. Come '04 or '05 a redesigned ETM was used.
This car is well beyond the extended, free replacement period. If this car exhibits the wild hunting and occasional shut down due to bad ETM remember that a XeMODeX rebuild is the way to go. The ETM is married to the car so one from the junkyard won't work. Also, if the ETM does go bad, the dealer can only replace it with another old style ETM. Have YOURS rebuilt with the new technology IF yours goes bad.
Mine never went bad.
8) There were many DIMs (Driver Information Modules) with bad soldering which caused the function of the gauges to fail. The DIM is EASY TO REMOVE and send off to the same shop for repair. A few people have reported refreshing the solder joints of the big IC on the board. If you're handy with a pointed soldering iron, have at it. Again, the DIM is married to the car so skip the trip to the junkyard. In my case, the blue high beam indicator light would fail to light. This was cited as the very beginning of DIM failure. It was the only symptom I ever experienced so I lived with it.
9) Make sure the cabin air filter is recent. How much dirt is in the air varies. Also, how much different people run their AC varies. Therefore, the amount of dirt the cabin air filter catches varies widely. Some change 'em every 12,000 miles. Others say 20,000. A clogged CAF will impede air flow and can smell. I've seen well heeled people with well maintained cars live with clogged CAFs. One guy didn't know the car had one and neither did his thoughtful mechanic (who I knew).
Buy this car. The $1,500 sounds quite fair to me. If your nephew needs a car there's no need to hold out for the price to be $1,000. This car was apparently VERY WELL maintained. You'll get more than the additional $500 worth of value from this car.
Also, considering seeking a different $1,000 car for your nephew when this one is so easily available would be extremely foolish. There's no way in God's world you're going to find a $1,000 car which doesn't need $3,000 to $5,000 worth of work.
Don't be offended, but...get real. Nephie will be in a great, safe car which gets great fuel mileage (if he drives sensibly). Also, in today's world with our fellow drivers playing video games while driving, he'll be economically better off when such a dope drives into a16-17 year old car than a new, smaller, sportier one.
FYI: This car has an automatic headrest which reacts to rear end impact to reduce / lessen whiplash injuries.
This is a great car and if you don't buy it I likely would. Are you near Louisville or other commercial airport?
First off, while the 2003-2004 did have SOME "bad trannies" it wasn't due to the transmissions themselves.
These units are exceptionally well made.
A computer program add-on called "Stop Neutral" was devised by Ford (they owned Volvo at that time) and it caused wear by making the trans go into N at stop signs and upon stepping on the gas the trans could slam into gear causing wear.
Also, Volvo's assertion that fluid is 'lifetime" (an evil lie to make maintenance costs seem lower on paper) caused many owners to run filthy fluid.
The fluid in this car surely was dirty. You KNOW THAT because a fluid change fixed things up.
No drips on the pavement suggest the PCV system was maintained as internal pressure builds if the PCV is neglected and this causes leaks. That the car has 295K without symptom of internal crankcase pressure means that the oil was changed before it could sludge up and cause the PCV to clog. Even better would be if synthetic oil was used. Are there any maintenance records?
Oil consumption of under a quart in 5,000 miles is NOTHING. In fact, that time frame is long enough for that piddling amount of oil to evaporate.
The other fluids being clear suggests the car was well maintained. Was the brake fluid changed too? Are there any maintenance records?
Suspension parts rattle as they loosen with wear. You say severe rattling was fixed RECENTLY. It's fixed. Are there any repair receipts?
AC works, tires and brakes are within duty cycle. I assume the tires are worn evenly. This essentially proves the vehicle is in good alignment. What brand tires?
Comparatively easy climate...no severe aging...known pedigree. Ask your friends if there are any service records. They make assessing the condition of other things easier.
Find out where they had the car serviced and CONSIDER CONTINUING TO GO THERE. There's a chance they went to the dealership and payed dearly for maintenance. If so, they got the peace of mind AND VALUE of 300K ownership and you'd get the BIG BENEFIT of a good car which is worth owning well into the future.
FYI: I had the same car; a 2002 for 9 years and sold it to the first person who test drove it. It had 198,600 miles. I sold it for $2,500 which was my asking price. I could've asked for more but the car needed a few items and I found and bought my replacement (a 2007) and needed the '02 gone. It only went 4 miles away. You know it was a good car if I sold it to a neighbor.
PONTIFICATION: This car was obviously well cared for so paying some money to YOUR FRIEND is appropriate ESPECIALLY since there was SUSPENSION WORK done so recently AND that you don't have to run off to the tire and brake store right off. If I interpreted your circumstances accurately, you'd be letting a great value slip through your fingers if you don't buy this car.
THING YOU CAN DO: After buying this car immediately after reading this, do the following.
1) Start the engine and do a "glove test"
2) Have the battery load tested.
3) Do a walk around and check all bulbs. If ever a bulb burns out make sure the corresponding bulb on the other side isn't black as matching bulbs are better to have. Consider adding basic bulbs to online parts orders as good sources of parts get better, European spec, bulbs.
4) FCPeuro (the renamed FCPGroton) and eEuroparts are good sources and are run by good people. They stand behind their products. IPD has good stuff too but they are speed and tuning oriented. They're also honest people.
5) You have an easily changed fuel filer ahead of the left rear wheel. If by some fluke the connectors (push-in opposing buttons-pull out filter nipple) break NAPA sells a GREAT repair kit which includes 18" of replacement fuel line for either side of the filter.
6) Do at least one drain & fill to the transmission as the "new fluid" the current owner installed may have had time to free up old dirt. A drain & fill requires 4 quarts of CORRECT FLUID. You'll have some left over. For a while now I've added LubeGard (red bottle) to every transmission fluid service in the recommended 1 oz. per system quart dosage.
7) FYI: The ETM is of the inferior design. Come '04 or '05 a redesigned ETM was used.
This car is well beyond the extended, free replacement period. If this car exhibits the wild hunting and occasional shut down due to bad ETM remember that a XeMODeX rebuild is the way to go. The ETM is married to the car so one from the junkyard won't work. Also, if the ETM does go bad, the dealer can only replace it with another old style ETM. Have YOURS rebuilt with the new technology IF yours goes bad.
Mine never went bad.
8) There were many DIMs (Driver Information Modules) with bad soldering which caused the function of the gauges to fail. The DIM is EASY TO REMOVE and send off to the same shop for repair. A few people have reported refreshing the solder joints of the big IC on the board. If you're handy with a pointed soldering iron, have at it. Again, the DIM is married to the car so skip the trip to the junkyard. In my case, the blue high beam indicator light would fail to light. This was cited as the very beginning of DIM failure. It was the only symptom I ever experienced so I lived with it.
9) Make sure the cabin air filter is recent. How much dirt is in the air varies. Also, how much different people run their AC varies. Therefore, the amount of dirt the cabin air filter catches varies widely. Some change 'em every 12,000 miles. Others say 20,000. A clogged CAF will impede air flow and can smell. I've seen well heeled people with well maintained cars live with clogged CAFs. One guy didn't know the car had one and neither did his thoughtful mechanic (who I knew).
Buy this car. The $1,500 sounds quite fair to me. If your nephew needs a car there's no need to hold out for the price to be $1,000. This car was apparently VERY WELL maintained. You'll get more than the additional $500 worth of value from this car.
Also, considering seeking a different $1,000 car for your nephew when this one is so easily available would be extremely foolish. There's no way in God's world you're going to find a $1,000 car which doesn't need $3,000 to $5,000 worth of work.
Don't be offended, but...get real. Nephie will be in a great, safe car which gets great fuel mileage (if he drives sensibly). Also, in today's world with our fellow drivers playing video games while driving, he'll be economically better off when such a dope drives into a16-17 year old car than a new, smaller, sportier one.
FYI: This car has an automatic headrest which reacts to rear end impact to reduce / lessen whiplash injuries.
This is a great car and if you don't buy it I likely would. Are you near Louisville or other commercial airport?
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