It depends on the car and it's previous care, what it's likely to need now.

The average 80's 740 is a $1500 car, at best, and everything needs work with the 150K-250K it likely has on it. Unless it's already been done. Mine is just rolling over 147K, and it was well maintained, but the mostly original brakes are showing sings of wear, as is the suspension, I already rebuilt the driveshaft, and it goes without saying that all the consumables, belts, hoses, etc, etc, were replaced. The AMM gave out, the main fuel pump is noisy but not growling, yet.
The OD unit is finicky in usual manual trans fashion, etc, etc.

If you read through the FAQ, as was said, you'll get an idea of what can, and will, go wrong. They are good cars, but like every Euro car with some age and miles on it, unless it's been exceptionally and proactively well cared for, it's a ready made project. I've had dozens of Mercedes and BMW's and VW's and Saabs, it's all the same song and dance. I enjoy it, mostly, and have never had one not give me ample warning about maintenance due.

I keep records as best I can, it can get to be a hassle after awhile though. I always keep parts receipts, that's almost as good.

My 2 cents...

I keep an excel file that I manually entered the service and inspection requirements in it and list the date / mileage I perform the maintenance / inspection along with the cost and next due maint inspection date / service mileage...pretty simple. I generally change my oil & filter at 3000 and not 5000...cheap insurance...and every other oil change...rotate the tires...

Next I religiously reset my trip meter at refills to keep a wary eye on potential 'issues'. I keep up with the simple nitt-noid stuff to keep the vehicle operating safely and other than that... I don't mess with stuff that's not broken which does not jeopardize the safety of anyone driving or riding in my car.

Another lesson learned...as much as some folks despise their local Volvo "stealership"...develop a relationship with them. Some of these mechs can give you some sage advice and additional pointers not found in the Hayne's which they've learned over their many years. And hey, for ~$35 per diagnostic they can pin-point something that might take you hours on end (what's your time worth).

Finally, enjoy your Volvo and the many "payment free years of enjoyment" it will give you if you take care of it...especially while your friends are on their third or fourth domestic vehicle...beacuse a "Volvo is too expensive".

Cheers...

Frank
'88 760T >305,000m
'00 C70 >100,000m

Best thing is to just read the 700/900 FAQ in its entirety. Lots of good info in there. Volvo factory repair manuals are handy. Lots of them are out there on the interweb.

We have three cars, so I keep all of the records and notes in an Excel spread sheet at home. I also have an informal "to do" or "to check" list where'll I'll jot something down when I think of something. Definitely comes in handy when ordering parts.

Never hurts to fiddle, poke, and prod under the hood. Get some used working spares of the expensive parts (ECU, AMM, Etc.) That way you have them in a pinch, vs. having to shell out big time when you have to get the car going again ASAP.

Something handy that I found out by accident is to photograph the crap out of the car with a digital camera. Not talking glam shots, but just of the nitty gritty under the hood, etc. Helps you "armchair" some things while you're going through manuals after the sun goes down... or it's really cold outside.

Finally, something I'm thinking of doing is to either print out and label or just import into photoshop the schematics of the major subsystems (like the FI system or ignition system) and then label the components as to when they were replaced. That way you have a graphical image with *all* of the parts on it so you can get a feel for the overall age/condition of these systems. It'll help with trouble shooting, too.

Have fun!
-Ryan

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Athens, Ohio
1987 245 DL 314k, Dog-mobile
1990 245 DL 134k M47, E-codes, GT Sway Bars
1991 745 GL 300k, Regina, 23/21mm Turbo Sway Bars
Buckeye Volvo Club

I obtained several thousand dollars ($18K from new) worth of receipts from the previous owner of my car. 99% of the work was done at the dealership, so the mileage and date are always on the bill. Looking back over when (and what) components have been changed has helped me narrow down a couple of minor problems I have had with the car.

I think you may be touching on something else. I too am a gearhead, and so far my Volvo has been stone-dead reliable. I sometimes find myself doing things on the car merely for the sake of doing them. A good time eater-upper is to clean, clean, clean under the hood. I could eat a steak dinner off of the inner fenders on my Volvo. It has made regular maintenance jobs (mostly) dirt-free and more fun.

Good luck!

Just set up a sheet of paper for the car and everytime you do something (ie. oil change, flame trap, etc.) write down the date and mileage next to it. It only takes a minute but it definetely makes a lot of sense.

I suppose it could be a bit of both? Depends on the components or key items to maintain like certain fluids, belts, etc.

I think of airlines or airforces keeping their planes flying for such a long time - they're onto something there.

It does come down to whether you want to keep driving the car for a long time more or not I guess.

See the FAQ section on preventive maintenance to understand what can go wrong. In some cases (cooling system components, for example) you want to be fairly aggressive in replacing parts BEFORE they fail. In other instances, you can wait, unless you absolutely have to have an utterly reliable car, in which case you will be more aggressive in preventive replacements.
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See the 700/900 FAQ at the "select shortcut' button, upper right of your screen.