About a year ago we bought a 2006 Volvo S40 and it was in the shop more than my Z24 was in the 3 years I had owned it! So Volvo ended up buying it back because there were electrical issues that could not be resolved.
Our old S40:
and our new one......2007 S40:
There a a couple cosmedic and standard changes from 06 to 07....side view mirrors are bigger, IPod connection port, different style antenna, DSTC(Dynamic Stability Traction Control) which adds Yaw control. No plans on mods so far except for tinted windows and maybe black wheels with a polished lip. Comments good or bad welcome

Yeah Volvo located that one for us.....wouldn't even let us pick out a different color. They charge for metallic paint so that might be why which is stupid.
We still have a piece of the 06 though as they swapped out the deck lid from our old one
I work at a volvo dealer ship, and have to drive these things all day.
they come with the option of the na 5 cyl, 2.5 T and the T5.
the t5 has some pep, but its the handeling of those things that I like. they are biased pretty well. there is vertualy no under steer to be had, and on a tight enough apex, youl actually feel the rear give. you can even control the oversteer in the all wheel drive cars.
whats even better is the stability control doesnt over intrude it self. your really dont know its there till you get in trouble. and then its there to save your ass. you can turn it off if you havent figured it out yet, that model should have it on your turn signal arm. just cycle threw your messages till you see stability, and you shoud see it then just hold the message button, and it will shut it down till the car is turned off. (its really only good for smokey burnouts, and killing your self in the turns.)
btw if your car is turbo then your can call up IPD there a volvo tuning company out of sweeden. they make chips. for the cars. I have driven a chiped and worked, s60R those things can move.
also check out sweed speed... have fun
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boobs now with Riboflabin"
www.ipdusa.com is out of Portland Oregon. They have been doing Volvo's for about 30 years and have recently moved into subaru's for 5 years. i have a 1964 volvo 122 that i pretty much got everything there for, and a 1998 volvo s70 t5 that i had chipped. they are great people and i would recommend them highly.
00 cavalier (5 speed, 2200) 84 chevy c-10 (v-8, 400 hp) 64 volvo 122 ( everything......)
Mr.Goodwrench-G.T. wrote:Very few car companies does this. Consider your self lucky on that aspect. 
Yeah we were pretty impressed with this. They said they didn't want us to think that is how their cars are built. Awesome customer service! They gave us an 08 S40 to drive for the month they had our car fixing it:
I agree with the handling on this thing......it definatly holds in the twisties! Had a newer accord try and out corner me(in my 06) on my way to work one day and he about spun out.

We have the 2.4i....non-turbo one. We looked at a T5 AWD when we bought our 06 and loved it, but it was out of our price range.