Another vote here for checking the sway bar links. I've got a 2004, and every time I'd go over a bump it sounded like I'd lost a motor mount. The clamps that hold the sway bar to the frame have a hard rubber coating that will wear off as the car gets use, allowing the sway bar to smack against the frame. It's a dealer part, about $45 for both sides if I remember correctly.

I've got another rattle in the dash, passenger side, but I've got to replace the heater core before it gets much cooler so hopefully I'll find the source of that when I pull the dash out. I foresee much alcohol in my future.

I'll post with that info after I finish that job.

Check the sway bar end links. Mine had some play and gave a distinct clunk over bumps. Those types of noises really impact the way you perceive the feel of the ride.

Easy to replace.

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mormit 2013 XC60, 2002 S40, 1985 245DL out on loan

A good (cheap and easy!) place to start would be the sway bar endlinks. Check for sloppy joints. At 125k they may be toast. If bad they will definitely clunk.

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Current - 95 855 GLT Sportwagon 255k, Formerly - 90 244 DL 300k, 93 854 GLT 108k

Get a plastic/wooden hammer and beat on anything. You will find the loose parts easily enough. The hammer doesn't need to be big.
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My back feels better when I sit in a Volvo seat