I had a '94 850 turbo wagon and loved it.
Read the codes from the box next to the windshield washer filler and do it immediately to see why the check engine light is on. If it's the service reminder light, that's no big deal as it just comes on to remind you to change your oil and can be turned off easily from the black box I mentioned. You'll want to buy a Haynes manual for your car. It gives the codes as well as how to reset everything, etc. and other how to's. You can buy one of these at Pep Boys or just about any auto parts store now. Get a cabin filter too (lift the plastic piece under the hood closest to the passenger (after a few torx bolts removed) and put one in. www.ipdusa.com sells a kit for this and it will help debris from getting in your A/C system and prolong your evaporator...a major repair when it finally begins to leak bad. Like someone else said, use R-134A gas with some leak sealer in it if you are already loosing some pressure. A kit at Walmart has the right connectors and a guage. The only in-let for the gas is next to and below the windshield washer fill tank (has a black plastic cap on it to keep dirt out). Also, I'm partial to K&N oiled panel air filters. This will help your engine breath better and is cheaper than an OEM filter in the long run. I have these filters in both of our current Volvo's. Other than this, make sure the Timing belt has been changed at 70K miles (140K, 210K miles, etc.) and the idlers/tensioners are also changed every other TB change. Bay13 has diagrams on how to do this yourself and it isn't that bad. Clean the crank case ventilation system, or in your car the flame trap (you should check it immediately...Very Important...will keep you from having a head ache later), as when this clogs up you build up pressure and will kill your rear main seal...very expensive to have fixed and messy when it begins to leak. Other than this, clunky suspension is a bother in these cars but these can be remedies with parts you can buy for cheapest at www.shox.com (I would replace all spring seats and strut/shock mounts when you change suspension parts). Also check into IPD's anti-sway bars and their heavy duty end links for a real tight suspension and enjoyable ride. Oh yeah, one more thing...do a transmission flush (explained on Bay13) with Mobil-1 Synthetic ATF and keep your car's oil changed every 5-6K miles or so with Mobil-1 Full synthetic as well. If you stay with Dino oil, don't go much over 3k miles.
Good luck and have fun with your car!
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1998 S70 T5 Emarald Green Metallic, 2004 V70 2.5T Ruby Red, Previous Owner of Black '94 850 Turbo Wagon
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