Replacement of the electrical portion of the ignition switch is something the home mechanic can do in about an hour. Mine wasn't failing, but it began feeling "mushy", as if an internal return spring had weakened, so I decided to replace it.
Take a look at the Volvospeed site (if there's a procedure in the Brickboard, I don't know how to find it): there is a procedure for the 850 switch, and the V70 isn't that different, except:
- You'll need #20 and #25 Torx bits. They don't have to be long, as the lower plastic steering column cover is held on by three #25 screws, recessed only about 1/4 inch.
- The #20 bit is used on the switch housing screws.
As the Volvospeed note suggests, be gentle with the switch connector. It's simply pressed onto the connector pins, so you can wiggle it off with your fingers (don't use anything metal!).
My V70 is a T-5, so my switch has nine pins. When you go shopping for a switch, be sure to have the VIN for the car in question; some models have different switches.
Also, be sure to not overtorque the screws, as they're only in aluminum.
In a nutshell, undo the lower column cover screws, gently pry up the upper column cover (it clips onto the lower cover), and lift the upper cover upwards and towards the driver a couple of inches to get it out of the way. Gently maneuver the lower cover down (it helps to have the movable column in the full-up position) and off the column completely. This took a bit of flexing of the cover and movement of the steering wheel along with a few choice words. (Replacing the lower cover takes more emphatic words.) After the lower cover is off, wiggle off the switch connector, note the appearance of the old switch, check the pin orientation and number against the new switch, and if everything matches, replace the switch (two #20 Torx screws). Now would be a good time to make sure the key operates the switch fully. If o.k., remove the key, press the switch connector onto the switch, and test with the key again (remember that this time, everything is electrically "hot") to make sure everything works. Remove the key.
From here, it's a matter of re-assembly. Start with the lower column cover; you'll have to flex and cajole it with an ever increasing vocabulary. It helps to remove the lower dash cover (one #25 screw) to see things better. The lower column cover has to clear the metal knee bolster to fit properly. Once the lower column cover is in place (put in the three #25 screws finger tight), the rest is fairly easy. Make sure the rubber boots for the waggle sticks (wipers and turn signals) are in place and replace the upper cover. Tighten the lower screws a bit more, close the lower dash cover, and you're done!