We got a 1997 965 in May 2006, with 128K miles. Bought it on eBay without doing an inspection. (It was 900 miles away.)
Why did I do that? Because the seller (a broker) guaranteed that he had 16 pages of records from the Volvo dealership where the car sold new, and the timing belt had been replaced at 125K. Yes, he had the records. The car has done very well for us, it is the wifemobile, 44 miles daily commute. 22 mpg. Incredibly smooth engine.
For you - look for the lastest and best, a V90 or S90. They will probably have the lowest mileage. An the most improvements.
There are a lot of similarities in the 1996, 1997, 1998 models. I understand that the rear suspensions changed, with the Nivomats being dropped for 1997. That means rear shock replacement carries little or no sticker shock.
The 960 is less DIY-friendly than the red-block engines, and since fewer were built parts are harder to find. Thus ownership might be more expensive.
In my opinion, no records is the biggest deal-breaker. Then there is which, if any, "heavy" maintenance items have been done that need doing, given the mileage on the car.
Good Luck,
Bob
:>)
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