My 1991 240 saloon (sedan) is on the TME lowering springs available from iPd some years ago.
As you'll read here and on turbobricks, for what you want, will be pricey if done right. "Right is qualitative. Adjustable torque rods and panhard rod for as low as you want.
Bilstein HDs work best with a normal suspension height so it works through and dampens against full range suspension articulation. Bilstein HDs can be modified, yet other brands may do such as Koni for lowered. Bilstein Touring front and rear.
When lowering, you remove suspension height and articulation. You want the spring to, at essence, resist compression, You may want to get Volvo 240 HD springs, or springs that would be meant for a Diesel 240 wagon, with measurement and math, you can trim a coil or so.
In addition, you may consider quality poly bushes, like Whiteline from Australia, now available in North America. Remember to use silicon synthetic grease like SuperLube NLGI 2 grease to lube them poly bushes.
Or, use Volvo factory OEM solid rubber bushes. Made by Boge of Germany. When building the suspension or changeling ride height, you'll need to loosen and tighten the securing hardware, like the center hardware securing stack, so the solid rubber bushes are "relaxed" when the car is at rest on a flat surface. Best to do this on an alignment rack.
The Volvo 240 may look best with 15" wheels that are 5.5" wide at MOST. Else, to deal with spacing, you may need to "roll" the outer fender lip. It is best to perform such a duty in clean conditions, and also reseal all the broken paint and panel sealant should you do this. You may be able to use wheels that stick out further. The concern is the inner tire / wheel contacting the front strut and the inner fender like where the upper shock mount secures.
You also have options with solid steel plate struts and customer front strut assemblies from the quality, if few, Volvo performance shops, globally. Several are in Portland, OR. You will need to research. Please search through my account index for articles treating this and similar subject content.
A look may also be sticking with the 14" wheel, in whatever model you choose, and sticks with a 185 / 70 R 14 or lower profile. If the suspension is stiff, and with out compliance, 14" wheels with 185 / 60 R 14 or 175 / 60 R 14 may suit you for the look. I had 175 / 50 (60?) R 14 on my 242 GT with the standard factory 1979 242 GT suspension (and what a suspension the 1979 242 GT comes [came?] with - fantastic). The smaller the tire, the shorter the service life, the reduced load (weight) the tire can carry, unless you go to very expensive tires. Only Michelin and Conti will do, or Pirelli, or something else fancy.
Two other five spoke alloys wheels are made by Volvo for RWD Volvo. I do not recall their model names. (Though search my history and articles in response to Volvo Girl and her question on Volvo wheels.) (Hydras and ???)
As other have said, it is best to get that suspension to stage 0. Meaning, out of the factory new. Do so for the entire drive-line, entire braking system including copper and rubber flex lines, motor and tranny mounts, undercoating, search and remedy rust, front AND rear wheel bearing grease pack, rear parking brake pads, and more.
The Volvo 240 is okay for very mild lowering. The solid, "live" rear axle, small wheel wells, front strut assembly
If you want to seriously lower a RWD drive Volvo, look to the 700/900/90s with the independent rear suspension (Nivomats back there). See turbobricks and other sites for solution. Seek out the vendors of Volvo RWD-specific suspension mods.
You can lower that 240. You may see slammed and severely lowered 140s, 120, 130s, 240, and the suite of 700/900/90s. The newer models may be more suitable for slamming. But at a cost.
Please don't build or modify a RWD Volvo to see ti be one of the last repairs the RWD Volvo receives. I've read how slammed and lowered RWD Volvos received damage from being too low, being driven too fast, and the car being damaged beyond repair.
Also, please don't modify a RWD Volvo for the purposes of drifting only. The RWD Volvo is one of few makes free of historical baggage as with German autos. Volvo has its dignity in history. Drifting on asphalt and concrete pavement quickly destroys the suspension.
These are excellent cars for Rally and Rally-Cross.
So, get that Volvo to stage zero. Do it right. All the info you need is right here on the brickboard. Install Bilsteins. (Though Bilstein HDs may not fit the 1990 front struts.) Choose Koni or Bilstein Touring. Else, go to Germany and order the Boge Turbo Gas or a stiffer Made in Germany Boge since Boge of Germany won't sell directly to North America.
Much to my unhappiness. Made in West Germany Boge on everything Europa import was perhaps the best with ol skool de Carbon, Bilstein, and, of course, the revered Koni.
Avoid Sachs, URO, APA, Meyle, and so on.
Questions?
Hope that helps.
Buttermilk and Sourdough.
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