I have a 2004 model V70 R. I bought it from main dealer in 2006 with 31,000 miles on the clock, 4 years later & its on 74,000 miles now.
Its my wife's car but we normally use it for going on holidays to France etc. Had it serviced at Volvo for the 1st year then after that saved myself a fortune by getting a friend with a garage to do it who happens to be a ex Volvo tec, i've done him a few favours so it costs me next to nothing.
Drivers heated seat stopped working but i haven't bothered to fix, alarm siren gone faulty (codes read) comes up with alarm req service everytime you start car but then goes out, its going to cost me £77 for new alarm siren kit (Volvo wanted £264 fitted !). Car started loosing power /boost intermittantly,read codes & i fitted new fuel pressure sensor (again Volvo wanted about £250 fitted) part was about £100 from memory. Every now & again the chassis settings req comes on (very rarely comes on),read codes & needs new LH Acceleration sensor which i can fit.
I've gone through 2 sets of tyres & lots of petrol, mine seems to average around 24mpg lots of short school trips.
So apart from that lot no other problems so far, although heavy depreciation !
It doesn't get driven that hard as the Mrs mostly drives it, i do thrash it now & again but i prefer my M5 as its quicker & sounds nicer to
I hope to change the V70 R in the next 2yrs for one of the new V70 D5's as i just couldn't be without the load space in the Volvo.
Cheers Simon.