The 1992 Volvo 240, a stalwart of Swedish automotive engineering, represents the final production year for this iconic model, which originally debuted in the 1970s. Available as a sedan and a spacious wagon, key trims included the base model, the GL, and the GLE, with pricing typically ranging from the mid-$10,000s to the low $20,000s when new. It stands out for its legendary durability, boxy, functional design, and unwavering commitment to safety, making it a beloved choice for practical buyers.
The Good
The 1992 Volvo 240 excels in reliability, robust build quality, and a comfortable, spacious interior. Its straightforward design appeals to practicality, while its reputation for longevity evokes a sense of enduring value and dependable companionship, offering a secure and comfortable ride for any journey.
The Bad
Potential buyers of the 1992 Volvo 240 should watch out for rust, particularly in the wheel wells and along the undercarriage. Electrical gremlins, such as issues with the instrument cluster or power windows, can also arise. Older models may experience worn suspension components and aging interior materials.
1992 Volvo 240: Quick Overview
- Engine Options: The primary engine for the 1992 Volvo 240 was the 2.3-liter inline-four cylinder engine. This engine was available in different states of tune, including naturally aspirated and turbocharged variants in earlier model years, though the 1992 model predominantly featured the naturally aspirated version.
- Horsepower: For the 1992 model year, the naturally aspirated 2.3-liter engine typically produced around 114 horsepower. Turbocharged versions, if found on earlier models, could produce more, often in the range of 162 horsepower.
- Fuel Economy: Fuel economy for the 1992 Volvo 240 was generally respectable for its era, with estimates around 18-20 mpg in the city and 23-26 mpg on the highway, depending on transmission and driving conditions.
- 0-60 Times: Acceleration was not a strong suit for the Volvo 240. Naturally aspirated models typically took around 11-13 seconds to reach 60 mph. Turbocharged versions were quicker, often in the 8-10 second range.
- Towing Capacity: While not primarily designed for towing, the Volvo 240 had a modest towing capacity, generally around 1,500 to 2,000 pounds, suitable for light trailers or utility needs.
- Trim-Level Features:
Base Model: Offered essential features like power steering, an AM/FM radio, and durable cloth upholstery. The focus was on functionality and fundamental transportation.
GL Trim: Added comfort and convenience features such as power windows, power door locks, air conditioning, and often upgraded interior materials. It also frequently included a more premium sound system.
GLE Trim: Represented the top tier, often featuring leather upholstery, alloy wheels, cruise control, a sunroof, and other luxury appointments to enhance the driving experience.
1992 Volvo 240 Specifications
Vehicle Information
| Year | 1992 |
| Make | Volvo |
| Model | 240 |
| Trim | - |
| Style | 5-Speed Manual |
| Type | Sedan |
| Category | Compact Car |
Manufacturing Details
| Made In | Sweden |
| Manufacturing City | TORSLANDA |
Dimensions
| Doors | 4-Door |
| Curb Weight | 2954 pounds |
| Gross Vehicle Weight Rating | - |
| Overall Height | 56.30 inches |
| Overall Length | 189.90 inches |
| Overall Width | 67.30 inches |
| Wheelbase Length | 104.30 inches |
| Standard Seating | 5 |
Engine & Performance
| Engine | 2.3L I4 |
| Engine Size | 2.3L |
| Engine Cylinders | 4 |
| Transmission | 5-Speed Manual |
| Transmission Type | Manual |
| Transmission Speeds | 5-Speed |
| Drivetrain | Rear-Wheel Drive |
Additional Features
| Anti-Brake System | 4-Wheel ABS |
| Steering Type | Rack & Pinion |
Pricing
| Manufacturer Suggested Retail Price (MSRP) | $21,495 |
| Invoice Price | - |
| Delivery Charges | - |
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What Problems Does the 1992 Volvo 240 Have?
The 1992 Volvo 240 is renowned for its overall reliability, but like any vehicle, it has its common issues. One of the most frequently reported problems is related to the fuel system, specifically injector O-rings and fuel pump failures, which can lead to rough idling or starting issues. Electrical problems are also quite common, particularly with the instrument cluster, where gauges can malfunction, and with power window regulators, which can become slow or cease to function. Over time, aging wiring harnesses can degrade, leading to intermittent electrical gremlins. The cooling system is another area to watch; radiators can develop leaks, and heater control valves may fail, impacting cabin climate control. Suspension components, such as ball joints and bushings, will wear out with age and mileage, leading to clunking noises and imprecise handling.
Rust is a significant concern, especially in regions with harsh winters and road salt. Areas prone to corrosion include the rocker panels, wheel wells, floor pans, and the lower parts of the doors. While there haven't been widespread, major recalls specifically targeting the 1992 model year for catastrophic failures, it is always advisable to check for any outstanding manufacturer recalls. Long-term reliability is generally excellent if the car has been well-maintained, with many owners reporting their Volvos surpassing 200,000 or even 300,000 miles. The engine and transmission are typically robust, but routine maintenance like oil changes, timing belt replacements, and fluid flushes are crucial for achieving this longevity. Issues that might arise in later years are often related to the wear and tear of components rather than fundamental design flaws.
Rust is a significant concern, especially in regions with harsh winters and road salt. Areas prone to corrosion include the rocker panels, wheel wells, floor pans, and the lower parts of the doors. While there haven't been widespread, major recalls specifically targeting the 1992 model year for catastrophic failures, it is always advisable to check for any outstanding manufacturer recalls. Long-term reliability is generally excellent if the car has been well-maintained, with many owners reporting their Volvos surpassing 200,000 or even 300,000 miles. The engine and transmission are typically robust, but routine maintenance like oil changes, timing belt replacements, and fluid flushes are crucial for achieving this longevity. Issues that might arise in later years are often related to the wear and tear of components rather than fundamental design flaws.
How long will the 1992 Volvo 240 last?
The 1992 Volvo 240 is legendary for its longevity. Based on owner data and common maintenance practices, it's not uncommon for these vehicles to reach 200,000 to 300,000 miles, with many exceeding 400,000 miles. With consistent oil changes, timely replacement of wear items like timing belts and hoses, and addressing minor issues promptly, the 240 demonstrates exceptional long-term durability. The core mechanical components, particularly the engine and transmission, are built to last. Weaknesses that manifest over time are typically related to age and mileage: rust can become a significant structural issue if not managed, and electrical components can degrade. However, the inherent strength of its construction means that with diligent care, the Volvo 240 can serve reliably for decades.
What Technology & Safety Features are Included?
The 1992 Volvo 240, by modern standards, offers a rather basic suite of technology, focusing on core functionality rather than advanced digital features.
Entertainment: Standard entertainment typically consisted of an AM/FM radio, often with a cassette player. Higher trims, like the GLE, might have featured a more robust stereo system with additional speakers, offering improved sound quality for the era. Bluetooth connectivity, touchscreens, and digital audio streaming were non-existent.
Driver-Assistance Features: Driver-assistance features were extremely limited in the 1992 Volvo 240. The primary assistance was power steering, which made maneuvering easier. Features like cruise control were often optional, particularly on lower trims, but were rudimentary by today's standards. No advanced systems like lane departure warning, adaptive cruise control, or blind-spot monitoring were available.
Safety Features: This is where the Volvo 240 truly shined for its time. Volvo's unwavering commitment to safety was evident. Standard safety features included robust three-point seatbelts (a Volvo innovation), crumple zones, side-impact protection beams in the doors, and anti-lock brakes (ABS) were often standard or available on many models, significantly improving braking control. The solid, well-built chassis provided a protective cage for occupants. While official crash-test ratings from agencies like NHTSA or IIHS for this specific year might not be readily available in the modern database format, Volvos of this era consistently performed well in independent safety tests and were lauded for their occupant protection. The car's sheer mass and sturdy construction contributed significantly to its safety profile in collisions. Optional features at the time might have included fog lights or rear window defrosters for improved visibility.
Entertainment: Standard entertainment typically consisted of an AM/FM radio, often with a cassette player. Higher trims, like the GLE, might have featured a more robust stereo system with additional speakers, offering improved sound quality for the era. Bluetooth connectivity, touchscreens, and digital audio streaming were non-existent.
Driver-Assistance Features: Driver-assistance features were extremely limited in the 1992 Volvo 240. The primary assistance was power steering, which made maneuvering easier. Features like cruise control were often optional, particularly on lower trims, but were rudimentary by today's standards. No advanced systems like lane departure warning, adaptive cruise control, or blind-spot monitoring were available.
Safety Features: This is where the Volvo 240 truly shined for its time. Volvo's unwavering commitment to safety was evident. Standard safety features included robust three-point seatbelts (a Volvo innovation), crumple zones, side-impact protection beams in the doors, and anti-lock brakes (ABS) were often standard or available on many models, significantly improving braking control. The solid, well-built chassis provided a protective cage for occupants. While official crash-test ratings from agencies like NHTSA or IIHS for this specific year might not be readily available in the modern database format, Volvos of this era consistently performed well in independent safety tests and were lauded for their occupant protection. The car's sheer mass and sturdy construction contributed significantly to its safety profile in collisions. Optional features at the time might have included fog lights or rear window defrosters for improved visibility.
What Colors Options are Available?
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1992 Volvo 240 Prices and Market Value
When new, the 1992 Volvo 240 typically ranged from approximately $17,000 for a base sedan to over $23,000 for a well-equipped GLE wagon. As a car designed for longevity and practicality, the Volvo 240 experienced a relatively slow depreciation curve compared to many of its contemporaries. Currently, used market prices for a 1992 Volvo 240 vary widely based on condition, mileage, and trim level. Well-maintained examples in good condition can fetch anywhere from $3,000 to $7,000, with exceptionally pristine or low-mileage models potentially commanding higher prices. Factors significantly affecting resale value include the presence of rust, the mechanical condition of the engine and transmission, interior wear and tear, and the completeness of service records. Enthusiast interest in these durable classics also helps maintain their value, especially for wagons.
1992 Volvo 240 Cost of Ownership
Owning a 1992 Volvo 240 is generally considered economical. Insurance costs are typically low due to its age and safety record. Fuel economy is decent for its class, averaging around 18-20 mpg in the city and 23-26 mpg on the highway. Maintenance costs are moderate; while parts are readily available and often affordable, the reliability means fewer unexpected repairs. However, specialized Volvo mechanics might charge more. Common repairs like replacing wear items are straightforward. Long-term ownership costs are favorably low, making it a cost-effective vehicle, especially if you can perform some maintenance yourself. It is an economical car to own.
1992 Volvo 240 Fuel Efficiency
Fuel Type
Gasoline
Fuel Capacity
15.80 gallons
City Mileage
20 miles/gallon
Highway Mileage
25 miles/gallon
1992 Volvo 240 Safety Rating
NHTSA
IIHS
1992 Volvo 240 Warranty
Basic
Original warranty
0 months / No data
Estimated remaining
Expired
Powertrain
Original warranty
0 months / No data
Estimated remaining
Expired
Rust
Original warranty
0 months / No data
Estimated remaining
Expired
1992 Volvo 240 Insurance
Insurance for a 1992 Volvo 240 is moderately priced, reflecting its status as a Sedan with strong safety ratings and
reasonable repair costs.
reasonable repair costs.
How Does the 1992 Volvo 240 Compare to Other Sedan?
The 1992 Volvo 240 competed in a segment of durable, family-oriented sedans and wagons. Its primary rivals included cars like the Ford Taurus, Chevrolet Lumina, Honda Accord, Toyota Camry, and certain models from European manufacturers like the BMW 3 Series (though generally more upscale) and Mercedes-Benz 190E.
Performance: The Volvo 240 was never a performance leader. Its inline-four engines were designed for durability and adequate power, but acceleration was often leisurely. Rivals like the Honda Accord and Toyota Camry offered more refined and sometimes peppier powertrains. Performance-oriented rivals like the BMW 3 Series significantly outperformed the Volvo in handling and acceleration.
Features: In 1992, the Volvo 240 offered a solid but unexciting feature set. While higher trims had comforts like power windows and A/C, they lagged behind competitors like the Ford Taurus and Chevrolet Lumina in terms of electronic features and dashboard modernism. Japanese rivals like the Accord and Camry often provided a more contemporary feel with more standard features even in lower trims.
Reliability: This is where the Volvo 240 truly stood out. While Japanese rivals like Toyota and Honda are known for their bulletproof reliability, the Volvo 240 shared that reputation for mechanical robustness and longevity. Many owners consider the 240 to be on par with, or even surpass, its Japanese competitors in terms of the sheer mileage they can achieve. European rivals like BMW and Mercedes-Benz were also reliable but often came with significantly higher maintenance and repair costs.
Price: The Volvo 240 was generally priced competitively, slotting between mass-market options and more premium offerings. It offered a strong value proposition for those prioritizing safety and durability over cutting-edge technology or sporty driving dynamics.
Alternatives:
Similar: For those seeking similar ruggedness and reliability, a well-maintained Toyota Camry or Honda Accord wagon from the same era would be a comparable choice, offering perhaps more modern features but not quite the same 'tank-like' build.
Better (if prioritizing performance/features): If performance and a more modern feature set were higher priorities, a used Honda Accord sedan/coupe, Toyota Camry, or even a lower-trim Ford Taurus might be considered. For a more engaging driving experience, a used BMW 3 Series could be an option, though at a considerably higher cost of ownership. However, for sheer enduring value and safety, the Volvo 240 remains a compelling choice.
Performance: The Volvo 240 was never a performance leader. Its inline-four engines were designed for durability and adequate power, but acceleration was often leisurely. Rivals like the Honda Accord and Toyota Camry offered more refined and sometimes peppier powertrains. Performance-oriented rivals like the BMW 3 Series significantly outperformed the Volvo in handling and acceleration.
Features: In 1992, the Volvo 240 offered a solid but unexciting feature set. While higher trims had comforts like power windows and A/C, they lagged behind competitors like the Ford Taurus and Chevrolet Lumina in terms of electronic features and dashboard modernism. Japanese rivals like the Accord and Camry often provided a more contemporary feel with more standard features even in lower trims.
Reliability: This is where the Volvo 240 truly stood out. While Japanese rivals like Toyota and Honda are known for their bulletproof reliability, the Volvo 240 shared that reputation for mechanical robustness and longevity. Many owners consider the 240 to be on par with, or even surpass, its Japanese competitors in terms of the sheer mileage they can achieve. European rivals like BMW and Mercedes-Benz were also reliable but often came with significantly higher maintenance and repair costs.
Price: The Volvo 240 was generally priced competitively, slotting between mass-market options and more premium offerings. It offered a strong value proposition for those prioritizing safety and durability over cutting-edge technology or sporty driving dynamics.
Alternatives:
Similar: For those seeking similar ruggedness and reliability, a well-maintained Toyota Camry or Honda Accord wagon from the same era would be a comparable choice, offering perhaps more modern features but not quite the same 'tank-like' build.
Better (if prioritizing performance/features): If performance and a more modern feature set were higher priorities, a used Honda Accord sedan/coupe, Toyota Camry, or even a lower-trim Ford Taurus might be considered. For a more engaging driving experience, a used BMW 3 Series could be an option, though at a considerably higher cost of ownership. However, for sheer enduring value and safety, the Volvo 240 remains a compelling choice.
Final Verdict: Is the 1992 Volvo 240 a Good Sedan?
The 1992 Volvo 240 is ideal for budget-conscious buyers prioritizing safety, durability, and practicality above all else. It's an excellent choice for first-time car owners, students, or anyone seeking a dependable daily driver that's inexpensive to insure and maintain. Whether it's worth buying hinges entirely on condition. A well-maintained example, especially a wagon, is a fantastic value. Avoid cars with significant rust or neglected mechanicals, as these can negate the cost savings. It is overwhelmingly a used-car purchase, as new examples are no longer available. Specific trims like the GL or GLE offer more creature comforts, but even a base model is a solid, safe vehicle. For those who appreciate a no-nonsense, built-to-last automobile, the 1992 Volvo 240 is a worthy acquisition.
Cathleen V
Cathleen is an exceptional freelance writer covering hot topics in the automotive world from a gearhead's perspective. Her articles delve into various aspects of automotive technology and history, offering readers detailed insights into engine performance, reliability, and maintenance. Through her engaging and informative writing, Cathleen provides valuable information to automotive enthusiasts and consumers alike, helping them make informed decisions about vehicle maintenance and purchases.