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Looks like leather to me dude. ;-)
Wow, this is really a rare find. Only 84K??? Lemme guess... previous owner was an old lady who drove it to bingo on Saturday night and Church on Sunday morning. Inertia looks like she just rolled off the showroom floor, or didja do that with photoshop? :-) For a 15 year old car, it's cherry. Wish I could find one like that here in CA. Very hard to find an older 240 with <150K. Even if you do find one with uncommonly low mileage, you've still got an older car, and certain areas (e.g. wiring harness, mounts, suspension) will need attention regardless. Just out of curiosity...how are your wiring harness and bushings holding up? If you've still got the original plastic tank Volvo radiator, you might think about replacing it with an all-metal one from iPd as a precaution. They get old and crack when you least expect it (ask me how I know about this sometime). The old b23's could take a lot of abuse, but the b230 isn't as forgiving if it overheats ($$$).
At 84K, that engine should still be very "tight." With regular oil changes, you should expect at least another 100K of trouble-free service. I've got a b230f in an '86 with 164K. Doesn't burn a drop of oil, just passed CA emissions test, and still gets 28mpg on the highway (4spd/OD tranny). I think it's gone through a waterpump or two, and a few timing belts (maintenance item), but no major issues so far. The valves didn't need adjustment until 150K, and even then they weren't very far out of spec. This might also be a good time to switch to synthetic if you so desire, before you start racking up the miles. The '86 is still running on dino juice (last change was with Castrol GTX "drive hard"), but it already had 120K on it when purchased in '98, so I didn't feel that great about making the switch.
Sure you already know all of this stuff, just trying to be helpful. :-) Good luck with her and keep us posted (please).
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