I'm going to go look at a '94 940 sedan later this week. The owner claims that it is in real good shape (no accidents/no leaks/everything works), with only a 1-2 busted plastic interior parts + busted/missing turn signal lens. It only has 75K miles (owned by his elderly relative since new) and he wants $4K. I was surprised that they have no maint records. Assuming I can't find any major problems what do you think I should offer? Maybe a dumb question, but should I be concerned that the mileage is so low? He claims it has sat idle for the last six months. I'm thinking prior to that this car took countless very short trips.

i picked my car up for 1600. its a green 1994 sedan with rebuilt motor. interier is sweet. rip in the leather seat. but other than that not a scratch.. now it has some major work done to her.

With the absense of an maintainance schedule, and the little niggling things, offer 2K. I mean, come on, with mileage that low and no receipts of oil changes and such, he might have changed the oil during the last crusade. Unless you know the older man, just walk.

Low miles cars always have high price tags but I've never seen one I thought was worth a premium for a few reaons:
1) The car may have been sitting a lot which is worse for one than running constantly and you're probably looking at rebuilding the transmission. There is probably three inches of congealed gunk in the engine. All the seals, grommets, and other plastic/rubber parts including even tires probably need replacement. So unless you want to restore it to new condition you'll wind up with more money in it than buying a new car and you still have an old one.
2) The odometer has been broken or disconnected and they have just fixed it and are lying about the mileage.
3) Regardless of anything else, it's still a '94 and no one else is going to want to give you over 2k for it.

Besides which, 940's have been offered at really inflated prices lately. But they're not that great. It's just an updated 240 unless you can find the dual overhead cam engine. And even then why buy one when you can shop around a little more and find a 960 in the same condition for under $2500 and get to drive Volvo's take on a European luxury sport sedan ?