Like any cheap old car you will generally get what you pay for Terry, but there are bargains to be had.
I bought mine blind from ebay. In the pictures it was parked under a hedge and looked like heap of crap, but the write up told a story of a car maintained regardless of cost by the former deceased owner and there were a couple of photos of minor damage, so I decided it was worth a punt. It came with a big pack of service records and bills, and half an hour at the nearest Kosovan car wash transformed it!
As I said in the other thread there are loads of examples out there with interstellar mileages, which shows that with proper maintenance they will go on for years and they don't rust!
Looking at Nick's post below, yes he's right in that like any old car if not maintained properly you could have expensive repair bills, but I'd say that they are definitely more forgiving of poor maintenance than some other cars. The Omega for example!
In 12 months not much has gone wrong with it. When I picked it up the heater blower fan didn't work, so the seller knocked £80 off. I bought a second hand fan from ebay for £20 and fitted it in an hour.
The rear wiper packed up, but it was easy to strip down, grease, reassemble and job jobbed!
At the moment the drivers door window doesn't work, but that is my fault where the wind caught the door and broke the door strap. I didn't do anything about it and the remains of the door strap mangled the window guide track...
What are they like to drive? Well mine replaced a BMW 530 estate, so compared to that it was like driving a canal boat!
But now I'm used to it, it's fine if a little uninspiring (FWD) and the handling could be better, but I suspect that the suspension is a bit tired on mine. The 2.4 D5 has plenty of grunt and auto box is responsive and kicks down easily when required. Big comfy leather seats, all the toys I need and acres of room with the back seats down. I've even squeezed a sofa in it!
Looking at DG's post, if it was a choice between a comparable Merc or V70, I'd go for the V70 all day long, as they are probably more robust, less complicated and they don't rust.
I said it before and I'll say it again, there are loads of old V70's with huge mileages out there still going about which should tell you all you need to know. The comparable Mercs will have dissolved....
Hopefully in about 6 months time I will no longer need an old workhorse type car and plan to get rid of the V70 and the Mondeo, and get something newer. A younger V70 will definitely be on the list of candidates, although I'll think about the XC70 or AWD version.
Did I mention that they don't rust?