Volvo 242/244/245, The Complete Buying Guide

Overview

The Volvo 242/244/245, known collectively as the 240 series, ran from 1975 to 1993 and represents the final evolution of Volvo’s iconic brick design. It’s a heavy, overbuilt Swedish box built to a standard that makes most ’80s cars look disposable. The sedan (244) makes up most of what you’ll find, the coupe (242) disappeared after 1984, and the wagon (245) is the one everyone wants now. These were the cars that made Volvo’s reputation in America: safe, durable, comfortable, and deeply satisfying in ways that are hard to explain until you’ve driven one. People bought them because they were the safest cars in the world. They kept them because they loved them.

If you let a 240 do what it does well, cruise, haul stuff, get you there without drama, it’s an absolute gem. Fight it and you’ll hate it. These are not quick, they’re not nimble, and the driving position isn’t for everyone. But find one that suits you and you’ll understand why people keep these things running for 30 years.

What to Look For

Body and Rust

Rust is the real killer. Most mechanical issues are fixable for reasonable money. Rust? That’s a different story.

Check these areas, they all rust:

• Rear spring towers inside the boot. Pull back the carpet. If there’s rust here, walk away unless you’re very keen and very skilled.
• Sills under the doors. Lift the car and look underneath. Surface rust is fine. Holes are not.
• Rear quarter panels where they meet the bumper brackets. Common spot, often bodged with fibreglass.
• Front chassis rails ahead of the wheels. Poke them with a screwdriver.
• Floor pans under the front seats and footwells. Check both sides.
• Boot floor around the spare wheel well and rear panel.
• Tailgate lower edge on wagons. Check the bottom lip and the area behind the number plate.
• Windscreen and rear screen surrounds. Rust here means water’s been getting in for a long time.

Walk away from cars with rust in the rear spring towers or structural rot in the chassis rails. Everything else is fixable, but those are deal-breakers unless you’re buying a parts car. Surface rust on suspension components and the exhaust is normal, treat it, paint it, move on. Holes are the problem.

Mechanical

The B21/B23 red block is famously tough. 250,000 miles is nothing if it’s been maintained. Most hover around 100-115 hp, turbos make 125-162 depending on spec. None are fast, but they’re unstressed and will run forever if you change the oil.

Engine checks:

• Piston slap on cold start is common and not a death sentence. It should quiet down once warm. If it doesn’t, budget for a rebuild.
• Weeping oil from the front crank seal or valve cover is normal. It’s not a panic item but worth sorting.
• Timing belt history. If there’s no proof of a recent change, budget to do it immediately. These are interference engines.
• Flame trap/PCV system. Check if it’s been done. If it’s blocked, you’ll get oil leaks everywhere. The flame trap is a known maintenance item on these cars, replace it every 50-60k or sooner if the car does short trips.
• Turbo smoke. Grey smoke on acceleration means the turbo’s pushing oil. Budget £500-800 for a replacement.
• Fuel system. Check for the transfer pump (pre-pump) in the tank, if it fails you’ll get hesitation, vapor lock, or hard starting. Not expensive but annoying to diagnose.

The automatic gearbox is reliable but saps power and makes the car feel slower than it already is. The M46 four-speed with overdrive is more interesting but the overdrive can be temperamental, electrical gremlins, hydraulic leaks. The M47 five-speed is the one to have: unburstable and keeps the engine on the boil.

Suspension and steering:

• Check the motor mounts. They’re designed to shear in a crash (very clever) but they also fail prematurely. Look for the passenger-side mount, it sits right under the oil filter and gets soaked every oil change. Replace them.
• Trailing arm bushings at the rear. If they’re tired the car will feel vague and wander. The leading bushings are a pain to replace without the factory tool but make a huge difference.
• Check for worn tie-rod ends and steering rack play. Parts are cheap, labor is straightforward.

The rear axle is a Dana 30, essentially indestructible. The ring and pinion might whine a bit as they age, but it’ll outlast you. It has a drain plug and a fill plug with a hose fitting, use it. Don’t pull the bottom hose off and shower yourself in diff oil.

Electrical

The 240’s electrics are simple compared to modern cars, but age has not been kind.

Common issues:

• Fuel pump relay failure. Carry a spare or a jumper wire to bypass it. This is the #1 reason for no-starts.
• Bulb integrity sensor. It monitors voltage to your lights and will kill all your brake lights if it fails. Check it if you’ve got no brake lights but bulbs are fine.
• Composite fuses in the fusebox. They can fail even when they look okay. Keep spares in the car.
• Headlight relay melting/overheating. Very common. Inspect the relay and the plug, if the terminals are melted or corroded, replace both. Upgrade the wiring if you’re keen.
• Mass airflow sensor (MAF). If the car’s running rough, clean it with proper MAF cleaner. Don’t use anything else.
• Corroded battery cables. Check the positive cable where it connects to the starter motor. If it’s green, replace it.

Interior

The interior on a good 240 is one of its best features. Ergonomic, tough, and surprisingly comfortable for long drives.

What to check:

• Seat frames. The bottom cushion support grid cracks and collapses. Aftermarket replacements are available and not expensive.
• Dashboard cracks. Almost all of them have cracks. It’s cosmetic. Don’t let it put you off a good car.
• Door panels and trim. Should be intact. Replacements are hard to find.
• Odometer. They stop working. Mileage may be higher than indicated, use service history and overall condition to judge.
• Heater/AC blower motor. If it’s noisy or dead, budget 5-6 hours of labor to replace the whole assembly (motor, switch, resistor). It’s buried in the dash.

Price Guide (Australia)

Rough guide as of 2024. Prices have been climbing.

• Project / parts car: $1,000-3,000. Rust, needs engine work, or major mechanical issues.
• Driver / daily runner: $4,000-8,000. Runs, drives, some rust, needs tidying.
• Good usable classic: $8,000-15,000. Solid body, recent service history, drives well.
• Excellent / low mileage: $15,000-25,000+. Rust-free or restored, documented history, genuinely nice.
• Concours / show car: $25,000+. Rare. Fully restored, original, or period-correct modified.

Wagons command a premium over sedans. Turbo models are worth a bit more. Manual is better than auto. Rust-free trumps everything.

Running Costs

Parts availability: Excellent. FCP Euro and IPD in the US, Skandix in Europe, local Volvo specialists in Australia. Most common parts are cheap and plentiful. OEM bits like MAF sensors and filters are cheaper from specialists than from Auto Zone.

Servicing: Straightforward. Oil changes, filters, belts, brakes, all DIY-friendly if you’ve got basic tools. A good independent Volvo specialist will charge far less than a dealer. Budget $500-1,000/year for routine maintenance if you’re doing it yourself, double that if you’re paying someone.

Fuel economy: 8-10L/100km highway, 12-14L/100km city. Depends on how you drive and whether it’s been maintained. Turbos drink a bit more.

Insurance: Usually cheap. Classic car policies are available for low-mileage/weekend use.

Surprises: Timing belts, flame traps, motor mounts, and the heater blower motor. Budget for these.

Which Variant?

If you want the best all-rounder: 245 wagon, manual, naturally aspirated B23. Tough, practical, easy to maintain.

If you want a bit of fun: 242/244 turbo, manual. More power, more responsive, but make sure the turbo’s healthy.

Avoid the auto unless you really can’t drive stick. It’s reliable, but it makes the car feel slower and less engaging.

Avoid early non-intercooled turbos if you’re chasing performance. The intercooled turbo (post-‘85) is the one to have, it’s tuneable and more reliable.

Coupe (242) if you like the look, but they’re harder to find and don’t offer much over the sedan.

The Verdict

The 240 is not for everyone. If you want something quick, nimble, or modern, buy something else. But if you want a car that will haul your family, your gear, and your tools across the country without drama, and do it for another 30 years if you treat it right, this is it. Rust is the enemy. Mechanically, they’re Lego. Find a solid one, maintain it properly, and it’ll outlast you. Simple as that.