Copied straight from another forum:
I'm currently considering selling my 850 T5. I'd always fancied trying one, and in August I was after a cheap car to take on holiday and couldn't resist it when my Dad's friend was selling his!! It did around a 1000 trouble free miles in a week, but since then, apart from a couple of weekends away, I rarely have a need to use it so am just seeing if anyone else was interested.
It's a 1993 850 Turbo T5 Estate. It's done 172k miles, but still drives really well, and pulls hard. It's got MoT till the end June 2008 and tax till March 2008 (I think). It isn't quite fully loaded, but you do get e/w, e/m, e/s/r, PAS, adjustable height steering column, heated mirrors, heated seats (although drivers doesnt seem to work) and an integral rear child seat. Since I've had it I've done the following jobs:
Oil/filter change
Replaced handbrake shoes
Fitted 1 new front tyre
Fitted original Volvo front strut brace
Replaced rear lights with some non-frosted ones
Fixed boost gauge
Fitted 2 new front drop links
It drives fantastically and is pretty quick thanks to having 225bhp on tap (certainly quicker than it looks!). Being an early model it also has the 'reverse flow intercooler' which is regarded as being better than the later designed setup. It has it's issues though - the 2 main ones being the ECU light comes on every now and again and throws up a Lambda sensor error. The car still drives fine and once reset the light will stay off for ages before coming on again. I believe that sometime last year it had a replacement lambda sensor, but was an aftermarket part which apparently the ECU doesn't like. A replacement Bosch part is £72 which would hopefully cure it. However I've got a 2nd hand sensor which I was going to fit to see if it helped, but haven't got round to it yet. Also the bite point on the clutch is quite high so I reckon that'll need changing sometime soon, but it's never caused me a problem (shifts fine and no slippage) so I haven't worried about it.
Oh, and it has a stainless steel exhaust which is quite loud, and also a removable tow bar.
Basically, a quick, comfortable, practical car that can also be a bit mental!!!

A few photos:
More pics and a video of the car in action here:
http://www.carlgibbs.com/gallery/main.php/v/mycars/850/
I've got it up on the Volvo Owners Club forum for £800, but if someone on here wants it then they can have it for £700. Would also consider a swap/part ex for something reliable and TD powered.
Give me a shout if you want any more info!
Cheers