i had a 2002 v70 t5 in black

bullet proof motors, the only issue is the geatronic gearboxes.
they are heavey on suspension components and front tyres, so look out for usual knock and bangs. check for normal servicing etc and make sure the cambelt has been done

with regards to the gearboxes, check the colour of the oil. the dipstick is a short (yellow) dipstick, its located low down passenger side at front of motor. its should be a pink colour, if its brown or black it will need changing. Also smell it, if it smells burnt then it will need changing

the gear boxes are Aisin Warner, if the gearbox bangs or knocks loudly when you put it in drive, then walk away. the box should be silky smooth and change up & down with no jolt & that's in auto and semi auto. Even if the gearbox oil looks OK i would change it anyway but you MUST you the correct oil. it needs to meet JWS 3309 specification
i bought mine direct from volvo, but it aint cheap, you can buy it from Toyota or Vauxhall as they use Aisin Warner boxes or you can buy this stuff http://www.mobiloil.com/USA-English/..._ATF_3309.aspx
dont be tempted to use any other oil as it will damage the box