I work in the service department at a Volvo dealership, my dad has been a Volvo master tech for 20 odd years and I've only driven Volvos
I love the newer body style S40. They're a very peppy car because it's so small, and yes, Volvos in general are "old people cars" (only because they can afford them) but really, the performance, sound systems and all around reliability makes them great cars IF you can afford to fix them. There is the kicker. Can you afford to fix it?
My dealership's hourly rate is $89.50 and that's on the cheaper side in Massachusetts. Also, I know for a fact parts are not cheap no matter where you go and it can be difficult to use after market parts such as brake pads because if they aren't Volvo brake pads, your rotors are going to get warped. I've had it happen on my old 850 when I first got it. Whoever had the car before me didn't have Volvo pads on it and the rotors were warped, making the car shimmy when braking from higher speeds.
It's really a great investment in a car and will last forever if you take care of it. My 2000 S70 has 244,000 miles on it and she still runs beautifully. Do your regular maintenance work and you really should be fine.
Ask questions if you've got any!