I had a 1986 740GLE estate with B230K engine and liked it except for the brittle plastics and carb problems after 3 years. Had the red interior and got lucky at a scrapyard for spares. The headlining used to sag a bit but the biggest letdown was the pierberg carb and replacement weber carb as eventually suffered from poor running. Used to drive fine for 3 hours then start spluttering and the rev counter bouncing wildly from 1,000-3000 rpm. Clean the carb jets and sometimes ok but became regular on short journeys. Was pretty rot free though and all instruments and electrics worked.
Bought for £425 and had it for over 5 years. PX at 180,000 roughly.
I did like the split folding seats which my 240 doesn't have.
Now have a 1989 240GLT automatic (after a new Toyota) that I bought in 2009 for £350 with 11 months mot and 159,000 miles with full Volvo service history up to 135,000 miles. It's been faultless and is my only car. Basic servicing costs apart from a new alternator at 191,000 miles. Now nearly done 200k
Love the B230E engine and the lazy driving style of the automatic.
There are 2 rusty bits to sort out and rear arches getting a bit crusty now, and is in no way mint but it keeps passing the MOT or costs less than £100 in parts, mostly ball joints and track rod ends!
Would I sell it, NO
Keeping it for as long as possible.
I actually feel safer in a 240 than my 740 as that didn't have side impact bars in the doors.
James