I have come across some S40 and tried it, and driven a S80T year 2003.
Car is heavy. It lacks the pick up, eventhough mine was a T-series.
What you might expect from a Volvo is relatively a simple, no fussy gadgets design, a clean safe and comfortable car to drive.
As state here as well....if you ever want to do maintenance...you'll need to take a painful cut in your pocket.
Then again, if you get a good condition S40...it's a good catch. From what I know, Volvo hardly runs into any breakdown problems.

But at the price of 40k++, and if you are ever looking into continental...an Audi is quite another choice you might wish to consider.
Yr 2000, hits about 50k+, the non-turbo version.
Just find a nice under 150k, good history maintenance...and you're good. After all...when u drive an Audi, you're behind the dashboard of an aeroplane...hohohoh...