Here's below the explanations rcvd form Discount Oxygen Sensors
for the Bosch universal O2 sensors installation.
http://www.discountoxygensensors.com/index.php?category=85863

" There is no illustration for installation but I do have instructions as follows... Steps for installing a new universal sensor. Unplug the sensor
from the wire leading to the engine computer from under the car. Remove the
the old sensor by turning counter clockwise with a deep socket and rachet or
a open ended wrench. Cut the socket off the old sensor (with enough wire to
combine with the new universal sensor) and attach it to the universal with
the kit enclosed with your universal sensors. Screw the new sensor back into
the hole and tighten. Plug in the connector and you are done. Follow same
steps for any remaining sensors. Hope this helps you. The correct sensors
for your car (non-turbo/no air-pump) are part number 15738 for both the front and the rear. The price on these are 82.50 each. The original sensors are different because of the connector and the length of wire. However since you are buying the universal sensors they are the same for both and will need to be
modified as described above. You can order online or call us toll free at
1-800-694-8161 "
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Jack

universal sensors are fine, as long as they are bosch and specific to your engine, ie. turbo vs N/A. Also you need to splice the old connector to the new sensor.
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'88 240, '92 745, '98 v70 John, Tampa Bay