Well the 960 is a bit more luxurious than the 940. the 960 has an 6 cyl interference engine, while the 940 has a 4 cyl non interference engine. This means that with a 960 you MUST be religious about replacing the timing belt, tensioner, idler pulley, and everything in point 1 below.
It used to be difficult to find bone yard 960, but they are not more common, making them less expensive to own.
The 960 was out from I think 92-98. The 92-94 had some serious problems with a pourous engine block. The major revision came in 95. It was a sleeker look, but as it was the first modee year for a change, this is what I have, and it is not the best.
Horsepower was reduced in 95. 92-95 only had OBD1, so reading codes and finding a problem is a bit more work. Knowing what I know today, I would probably buy a gently used 98 960, negotiate the price down, and have the car towed to a Volvo dealer or excellent Volvo indie and have everything in step 1, below done.
With mine, after the timing belt and accessories, 1-13 (filters, plugs, oil,etc., and I did everything else below (14-19) over a year or so. If you buy al the parts, you can DIY everything on the list over a weekend. Brickboarders may wish to suggest other ideas to work on as well.
Personally I like a super clean engine. It makes it easy to work on, to find the sources of leaks, and parts take less time, money, and expense to replace. Today my 960 is 17 years old, and is worth 24 times it's market value. Good luck and let us know what you decide.
What to do With a New To You Volvo 960
$1469
1. Timing Belt, tensioner, idler pully, spring damper, water pump ($550)
2. Replace Flame trap & seal ($10)
3. Replace serpentine belt ($35)
4. Clean throttle body, IAC with throttle body cleaner ($10)
5. Check codes, record, clear all
6. Test/replace battery ($130)
7. Replace oil filler cap gasket ($4.00)
8. Replace brake pads, slider pin boots, clean & lube slider pins, calipers ($100)
9. Spark plugs ($38)
10. Air filter ($40)
11. Vacuum elbows ($2.00 each)
12. Oil, filter, 10w30 ($40)
13. Replace fuel filter ($25)
14. Flush transmission fluid using rad line, Dexron III atf ($70)
15. Flush coolant, use Volvo blue, 50/50, water/coolant ($40)
16. Silicone spray rubber door, hood, trunk seals ($5)
17. Consider getting car detailed, esp engine shampoo. Makes it easier to see leaks, preserves hoses, vacuum elbows, easier to work on ($220)
18. After above, consider getting car appraised. It is an older car, and an appraisal will help preserve it’s value in the eyes of insurers ($150 1st time, $65 after that)
19. Check: engine mounts, control arm bushings, sway bars, rad hoses, upper rad neck, brake flex lines, parking brake condition, tie rod assembly
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