2003 Volvo S40- What should I know if anything?

I recently ran across a 2003 Volvo S40 in the neighborhood. It has a price of $1000 on the glass. Talking to the owner, I find it has a balky starter and a leaky front caliper. There are no bodywork issues (well, one little dent) and the black paint is not faded nor dull. I told him it should cost $400 or less to fix it and asked why he was so eager to sell what should be a nice car. He said he needed the money... I'm about ready to dig up the money and pull the trigger on this puppy. Before I do that, what should I know about it?

Watching because I've also seen several for stupid cheap near me (that's probably a clue). I think the 1st gen is based on Mazda3 platform? Looks like they were only available with slushybox, which is a bummer.

Ninja edit: apparently it's a Mistu platform. I found this thread from last winter: S40

Mitsu mirage I do believe, its kind of the bastard volvo, most all are that cheap surprisingly (or not). They arent bad cars at all, more like volvos version of a civic.

Edit wiki says mitsu charisma but still pretty sure its what Americans call the mirage

Is it a Volvo engine or Mitsubishi?

Wikipedia said: The chassis for this car and the majority of its components were developed by Volvo, however similar mechanical components can be found in the Mazda3 and the European Ford Focus.[21] The engine is the latest generation of Volvo's modular 5 cylinder engines.

Bgkast, That is the second gen that started in 2005.

The first gen is the Mitsubishi Carisma which was a European only platform that was bigger than the lancer (mirage in the states from 88-2002) and smaller than the galant. It should have the volvo B4204T3 motor in it.

It's an average car that is cheap because there wasn't much love for it in the states.

bmw88rider wrote: The first gen is the Mitsubishi Carisma which was a European only platform that was bigger than the lancer (mirage in the states from 88-2002) and smaller than the galant. It should have the volvo B4204T3 motor in it. It's an average car that is cheap because there wasn't much love for it in the states.

Note also: it was built in Holland...THAT would have been a first!

Thanks, gang for the input. Someone showed up with money (I was unprepared but won't be next time). This particular car intrigued me because it probably would have been a good DD for either me or Mrs shadetree30.

I inquired that car model efore.. first gen s40 where mitsu carisma aka mirage lancer! The second gen where on the mazda 3.

1st gen being a mitsubishi, i found trails of people swapping evo suspension and drive train in them... need more research tough...

4g63 awd volvo s40 link Fwd evo swap