The XC90 competes for the same market as the Porsche Cayenne and the Infiniti FX. The midsize luxury SUV is one of the most lucrative automotive segments in the United States today.
There are several different engines sold with the XC90. They start out with the turbocharged I5, but there is also a diesel I5, an I6, and a 4.4 liter V8. The V8 was first offered in 2005, and it was an engine developed by Yamaha. This same engine is offered on the higher-end Volvo S80. The XC90 V8 retails for about $45,000, which is still a decent price for a V8 luxury SUV when compared to the competition.
As with most Volvo's, the XC90 is among the safest vehicles ever in its class. Not only does the XC90 meet or surpass the competition when it comes to front and side impact crash, but Volvo is one of the only companies that actively tests the likelihood of their SUV rolling over. The XC90 has been thoroughly tested and is less likely to roll over than any other SUV in its market segment. The XC90 was even made with pedestrians in mind. If a person were to be struck by this SUV from the front, the car is designed to throw that person up onto the softer hood of the vehicle rather than underneath it. A hood may not seem soft, but it will absorb a lot more impact than the road.
2005 Volvo XC90's were recalled due to a problem with the batteries that could cause a short or a fire. That problem has been fixed with newer models.
The second generation XC90 will be released in 2009 as a 2010 model vehicle. It is rumored to be moving upmarket to compete with the BMW X5, among others.
One good place I've found for buying newer used cars is eBay. It's not just for classic cars and junkers. There are a lot of nice luxury cars and SUVs on eBay Motors.