I have the similar motor as the 740 you posted. These cars are super simple to work on and nothing major really goes wrong with them. If you do run into issues you can find DIY help on the internets and parts are dirt cheap.
Non-turbo 8v Volvos are unstoppable. I have a '91 740 with about 150k (odometer broke at 103,000) and the only thing that's gone wrong in 4 years besides normal maintenance stuff (brakes, tires...) is the heater core. Watch out for that, it's probably the most expensive repair on this car.
5W-30 Valvoline SynPower (full synthetic) and Mahle filter since I picked this car up at 89k in '11. Just cleared 175k last week.
Mobil 1 5W-30 and a matching oil filter. '93 244 with 311,000 miles.
Volvo 940 Turbo; Castrol Edge Synthetic 0w40. Seems to play nice with the old seals and works pretty nicely in the winter too.
Kendall GT1 10W30 - Volvo filter 1275810
Done every 5k miles by my local Volvo specialist because that's their default and I like it to be checked out frequently. It's the oil they use. 179k miles
I have a 2007 V70 with the 2.5 but went FWD when looking at these cause I figured it would be less of a headache than the AWD models. Had mine for about 16 months, bought at 66k, with 71k on it now, no issues.
I've got an '07 V8 Sport with 90k miles. The summary I'd give is that it'll be a good bet after it's a bit of a money pit. I've dropped about $2,500 on mine in the last year for routine maintenance. Everything is more expensive on this vehicle, but as long as you keep up on routine maintenance they are bullet proof. At 90k, you'll want to know if the power steering pump has been replaced ($1,100 for an indy Volvo specialist to do it) as it's going out or about to. A/C compressor is also known to be funky around this time period ($600 if fixed, $1,200 + if replaced). Plus these vehicles are HEAVY so the suspension components start to wear down. They also EAT tires more than any vehicle i've ever owned.
I did buy the correct size Bosch replacements, but the connection doesn't match the original connection with the plugs I described.
I forget what there were called, but I had Pirelli snow tires on my previous XC60 and absolutely hated them. Very.. wishy-washy unstable feeling. I replaced them with Blizzaks and will never own another snow tire. The Pirelli was just not as quality as I wanted it to be. Poor life, poor grip, poor dry pavement feel and LOUD.
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