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Funny, I asked myself the same question 4 weeks ago!
I just replaced my utterly dependable 96 Trooper Ltd with a 99 V70 XC. I love the Volvo but experienced the same thing with the check engine light - although I was expecting it! The dealer who sold it to the dealer I bought it from spent $1000 trying to get the light to go off. He changed O2 sensors and a few other things - to my benefit! I just replaced the gas cap but that wasn't it either. I'm not going to worry about it at this point until my garage tells me otherwise. I suspect a turbo seal leak as the last resort. The code I get is P0455 Evaporative Emmissions Control System (Large) Leak.
I got such a great deal on the car (99k miles) so I took a chance. My biggest fear is the ETM Module and far worse - the dread bevel/angle gear ($2500!) - not a problem since yours is 2wd so don't panic!
Having owned Audi 5000s for years, I think the best advice is to keep a cool head and find a good service shop that won't rip you off.
Good Luck!
Dean
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