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Awesome and congrats!
Wot's the configuration? Manual transmission or automatic?
Your new Volvo 240 wagon may have the round-tooth timing belt and timing belt components in your 1993 240. The block may accept the much coveted piston-cooling and lubing oil squirters (as the piston moves down the cylinder).
Hopefully it's been well cared for. Verify the timing belt has been replaced (every 50k for square tooth belt, and 100k for round tooth belt on the B230). Replace the t-belt tensioner every 100k. Continental brand is best.
As you are in New York state, begin your body corrosion inspection. It'll be a chase, yet if you can treat the rust, clean the under body, and use something like Waxoyl as your underbody and interior rocker panel coating, you can have it beat. Check and treat for rust at bottom of doors. The POR-15 or like product can work for you.
While found outside a muffler shop, check the exhaust piping condition for corrosion and missing hangers. A bracket connects all 240 head pipes to a hanger off the bellhousing. This hanger is of crucial importance in supporting the head pipe, providing a ground for the exhaust piping up to that point, and fixes and support the piping from that bracket to the front muffler (if equipped). It can help to connect the exhaust piping by braided ground strap to the chassis at the hanger points. Seriously slows corrosion. Check the 02 sensor for proper operation using a voltmeter. Pay particular attention to the connection at the head pipe output and the catalytic converter input. That flange is the weak point in the Volvo four cylinder 240/700/900/90 exhaust.
Inspect the air intake system and all connected vacuum lines. Inspect the accordion0like air intake pipe between the 02 sensor and the throttle. Banish all vacuum leaks. See Uncle Art Benstein's cleanflametrap.com site to do just that. Check for air intake leaks around the injector seals.
Check and replace all fluids. Use owner-manual specified fluid (save for the M47 II manual tranny - use Volvo OEM spec fluid).
Lot's of wear items to replace. Do your research.
Congrats! That is a lucky find. Take care of it and treat it well, and it'll care for you.
I'd not mind a brand new 164 or 242 myself.
Would help with a Volvo 240 FAQ. You probably know all of this stuff, already.
cheers,
dud.
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