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Yes most are 5 cylinder but some aren't, and there are loads of versions. Biggest weekness on all of them is the lump of metal the auxiliary belt tensioner attached to, if the auxiliary belt snaps or becomes hammed it ripps off the lump and either.... Simply just not possible to mount a new tensioner because the lump is gone or worse (but actual the same outcome) it jams in cam belt and kills it. Either way new engine. There aren't many other big killers though unlike most engines.
Like a lot of common rail diesel around town itcan really drink, but as soon as your doing normal constant speeds (55-75mph) the economy is fantastic especially for a car that size.Older VP/pd diesels are economic in and out of town, just bad pollution
Not so up on the ford era Volvo's, d5 went from being a single turbo 5 cylinder to a twin turbo and then a single turbo 4 cylinder right at the end before being the new ones. Which are all 4 cylinder and around 2.0 displacement.
V70 are nice, v60 is a jazzed up modneo, which is good and bad, good for driving, bad for space, and you buy a Volvo because you want space.
Those last V70 are mostly specced with mid powered auto diesel and tbh they suit that. Not exciting, but a nice place to spend a lot of miles. They are popping up for around 3.5-5k for good older ones (2007.5-2010)