when I'm looking at the regular auto trader websites here in my country I see S40/V50's with 200k+ miles very often. In pretty good shape too. (1.8 and 2.0 petrols)
mine has done close to 150k now and still going strong. No sign of engine problems and I only have to top up 0.5L of oil between every oil service (10k miles).
The 2.0D and D5 engines seem to be capable of even higher milages without any problems when it has been looked after.
A huge advantage of a volvo S40/V50 compared to similar mazda and ford cars with the same engine is that the previous owner has probably looked after the car a lot better. Not just maintenance, but even things like washing a car and not revving the hell out of a cold engine.
If you find a nice looked after high milage V50/S40, I wouldn't hesitate to buy one again. Suspension parts are cheap and the engines fairly bullet proof.
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