In addition to any check’s you’d usually carry out, these specific ones for a 480 may prove helpful:
The Pop-up lights should move up and down as a pair, and with a smooth sounding motion only. If you can put your head near the lights whilst they are raised and lowed, doing this about 4-5 times check there are no unusual sounds and that they move in tandem. If not, an expensive repair could be on its way.
PAS can be checked by simple putting the wheel lock to lock with the engine running and checking for a grinding sound. That said my GT was on 140k of a hard life and the PAS pump was only just starting to die. Alternators can’t really be checked easily, bear in mind the replacement is £280 if you can’t source a 2nd user part as the usual aftermarket non-OEM ones are not available for AirCon 480’s, they can go easily before 100k.
Also check the handbrake which should need two-four clicks to engage on a flat surface, if it goes high in the air or needs more clicks, you could be looking at expensive calliper repairs (common problem).
To check the InfoCentre and Speedo wiring is ok (again very common problems) give the top of the dashboard a few light taps (not so heavy that you upset the owner), this would generally bring to light any problems with bodged repairs or soon to be faults in this area.
Volvo mechanics used to call the 480 ES’s the 480 En-Suite due to the water leaks it suffers. They can be a royal pain, but can cause much worse damage. The main car ECU is in the passenger foot well on the left hand side under the glove box. If water has got into the passenger footwell, the likelihood is it came via the main car ECU and this will cause it to have problems. The best way to check for a leak here is to take up a bit of carpet and check visually underneath (or with your hand). The panel covering the door sill just pulls upwards, provided you do it carefully it shouldn't break, and you can then check under the carpet which will be the bare floor. Boot leaks are easier to spot, take out the boot floor lining and also the spare wheel cover/wheel. If you see any water or water-damage likely this has been or is still a problem. A common fault is the well for the spare wheel filling up and rusting out completely.
The brakes (if OEM parts are used) should be very strong indeed, if they are not then usually a set of pads (£90 approx F+R from Volvo) and a bleed with .4 fluid should get everything spot on again. Volvo pads are worth it, despite the high cost, they work better and last far longer than cheaper products.
ABS / SRS problems often occur with the age of 480’s and signs of a cover up are usually easily spotted. Ensure when the ignition is turned to pos. 2 they come on, but both go out within about 10 seconds. If they are on until engine is fired, someone’s been playing with them, so likely they don't work. Again for ABS, if possible do a harsh brake test to activate it, the pedal should judder under braking if all is ok. ABS sensors are £90 a piece new, ECU/Pump is £100 second hand so another expensive problem if all is not well. SRS repairs are silly money.
The other thing to remember is this is a sports car with Lotus suspension, it should handle like its on rails, although the PAS makes steering at some speeds feel very loose. If it doesn't hold the road tight and true, the suspension's may have taken a pounding or you'll be spending money on new bushes, these go quite a lot too. Of course the tyres condition/make will also affect handling greatly, it is much happier on medium-soft compound tyres and to save money go for 195x50 R15’s instead of recommended 195x55 R15’s, they handle slightly better and are around half the price!
£1,200 is a lot of money for a 480, although with the mileage/history it could well be worth it. I’d want assurance FSH means yearly servicing and not every 10k because otherwise it's not been properly maintained.
Good luck with everything, I had a GT until recently and if you can put up with the love it or hate it leather seats they are a great buy. Note also GT's should come with alloys as shown below, if not you can knock £300 of the price before you begin as these were SE alloys of which only 250 sets for the GT's were available in the UK and they are nigh on impossible to get hold of.
But they are common things-not all 480's are like it, otherwise people wouldn't keep buying them! They are a nice and comfortable car, strong and safe-the spec is very good-compare it to cars of similar age/size/price and you can see where your money's going. Parts are usually pretty easy to get hold of through the forum-there seems to be a few being broken of late-which is a shame, but good as it keeps others alive!
