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Hello Mike:
I have an '89 760GLE with the B280F with 152K mi on it. I am quite happy with it, and I would consider buying another one in the future. These vehicles are excellent value because of the undeserved poor reputation of the late ('87-90) PRV v-6. There have been several reports on Brickboard of these motors going 250K mi or more before giving up the ghost.
Potential weak points:
1) cam cover seals can leak
2) water pumps aren't the strongest design (at least on the B280F the intake manifold doesn't have to come off for a replacement like on the B27 and B28!)
3) rear main seals will leak with high mileage (also true of the bulletproof B230!)
4) sometimes the threads in the block come out with the bolts-- di-electric effect of dissimilar metals.
5) tune-up parts are extremely expensive! Cap, rotor and wires will run $200 for this engine.
One problem I have encountered is finding mechanics who want to work on these beasts-- either do it yourself or take it to the dealer ($$$$). Like all Volvos it is not a low-maintenance car (the PRV actually needs valve adjustments-- it has solid rather than hydraulic valves!), but properly cared for it will last a long time.
I really like my 760GLE-- it is the most comfortable car I have ever owned. I recently drove a friend's '87 Chevy Caprice and could not believe the difference. It had spongy brakes, vague steering and bench seats with no support!
My advice would be to buy it-- you will get plenty of miles out of that car for less than 1/10 of the original purchase price!
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