In the process of buying a used 2005 Volvo V50…Any serious problems with this model?112,000 miles…Carfax looks good…BUT am I taking a chance with the Transmission and the engine?
Yes you are taking a chance just like any 16 year old vehicle.
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And you are buying a vehicle that is expensive to maintain, let alone repair the normal things needing to be repaired on a 112K mile vehicle.
If you are dead set on buying this, take it to YOUR mechanic and have them do a pre-purchase inspection. If the seller won’t let you do that, walk away from the car.
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Personally I’d be reluctant to buy any used Volvo, but I’d run away from one with 112K miles and 16 years old.
Unless this is the ONLY car available to you… keep on looking. Older used Volvos are not for the cheap or faint of heart.
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+1
My Volvo came from the factory with several assembly defects, but its reliability didn’t become truly problematic until it reached ~60k miles. Then, the repair costs became really excessive, and I wound up dumping it at ~67k miles.
As I tell friends, relatives, and neighbors, “I owned a Volvo… ONCE.”
I’ve shared this before…a friend of mine bought a used Volvo once. It had a lot of weird problems. Volvo mechanics outside of the dealer were hard to find. The repairs cost around $500 minimum every time, and there were a lot of repairs.
Not that other makes of cars don’t have problems… but it seems to me buying a used Volvo can be a self-inflicted wound.
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The mileage is good for the age but at 16 years old it’s still a flip of the coin. By “in the process” I take that to mean this is near a done deal.
As for the engine and trans, there are a few tests that could be performed to determine condition; within reason of course.
And of course the main qualifier; the asking price. At some point any car is worth a shot but not at twice the actual value.
At one time this deal may not have been too bad… 
