Welcome! I drive a '97 T-5 now (it's my second 850). No big issues to worry about. Like any car, this one has it's weaknesses. Most notable are the PNP switch on the tranny (kind of a relay to tell the transmission what gear you chose), and the evaporator in the AC. PNP is a pretty easy fix if you're handy. Evaporator will run you about a grand with a dealer. Interestingly, I personally haven't had a problem with either.
As to the timing belt, I won't let mine go beyond 60k miles between changes. Not worth the risk. I have a good Volvo certified indie mechanic. Charges me around $250 to change it in addition to other scheduled maintenance.
For lubrication, I'm a big fan of synthetic oils, specifically Mobil-1. I'm not hung up on the transmission fluid type, but I flush and fill it every 20k miles.
I may be a little more particular than most, but I drive the car pretty hard at times, and have never had a real problem.
Good luck!
(Subliminal message.... buy the Volvo... buy the Volvo... buy the Volvo.)
As to the timing belt, I won't let mine go beyond 60k miles between changes. Not worth the risk. I have a good Volvo certified indie mechanic. Charges me around $250 to change it in addition to other scheduled maintenance.
For lubrication, I'm a big fan of synthetic oils, specifically Mobil-1. I'm not hung up on the transmission fluid type, but I flush and fill it every 20k miles.
I may be a little more particular than most, but I drive the car pretty hard at times, and have never had a real problem.
Good luck!
(Subliminal message.... buy the Volvo... buy the Volvo... buy the Volvo.)
