I would avoid the ZF auto transmissions, but if the shifter has a small
button on the side to lockout the overdrive, it's an AW-70/71 and those
are pretty solid.

Clean out the flame trap, check for leaks, if it's a 16V motor change
the timing belt immediately unless you *know* it was changed on time.
Otherwise they're pretty solid cars, mine also had 225K when I bought it
8 years ago, still driving it daily.

How well has required service been kept up on the car.  Drive it to
make sure all features work.  Take it to a Volvo mehcanic for a pre-
purchase inspection.