Tracy-
The only tool you need (after removing the wheels) is a 7mm hex driver. Remove the spring wire on the outside of the caliper. Remove the plastic plugs from the rubber sleeves on the back side of the caliper. Inside the sleeves are the sliding pins with the 7mm sockets. Unscrew the pins. Push the caliper piston all the way into the caliper. Lift the caliper off. Replace the pads, putting silicone grease on the pad-to-caliper-bracket contact points. Clean the sliding pins. Install the pins using a SMALL amoung of silicone grease on the smooth sides of the pin. Re-install the plugs and spring wire. Drive the car GENTLY for the first few miles, braking with light-to-normal pedal pressure. After you have completed 6-8 stops, the brakes should feel like they did with the old pads. If you get a brand new pad too hot too fast, you stand the risk of glazing the pad and will never have the proper braking.
Dave the Volvo Tech
'99 V70R AWD, '93 854 GLT, '82 242 DL
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