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Read comments on this odometer fix procedure in the Volvo Forum or scroll down to see comments below the photos (very helpful!)
Odometer Fix Tutorial Overview
How many miles do you have on your Volvo? Don’t know? Maybe it’s time to
fix the odometer 
. Note: MVS reader Steven reports this impacts both the trip meter and odometer.
If you have a Volvo with an OBD system under the hood (generally up to 1995 and some ’96 models), you can read the actual miles from the ECU so that you can set your odometer to the correct number after it’s fixed.
Odometer Fix Tutorial Procedure
Odometer Fix Step 01
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Odometer Fix Step 19
NEW! STEP 19.5 (October 6, 2009):
There is a brass nut and washer on the back of the cluster that must be removed before you can gain access to the odometer and trip gears. Do not tighten too much after the repair as you can crack the circuit board.
http://img222.imageshack.us/img222/2110/dsc00061kn6.jpg <- brass nut
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Odo fix Addendum
Oct. 16 2005: More images, these from Govil. Thanks Govil!
Odometer Fix Addendum Step 01
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Odometer Fix Addendum Step 05
It took me two attempts to finally get the gear repair completed. On closer inspection the second time around I noticed a small “injection projection” from the molding process left on my larger gear. I carefully smoothed this off with a nail file, reassembled the odometer and prayed for luck. SUCCESS! It works good and I got everything reassembled in good shape looking showroom fresh.
I caution folks that this project requires a good level of mechanical ability or experience in “swiss watch repair.” This was not an easy project for me. I would rather have changed the brake pads than do this job. But, It’s done and I saved a ton of money. Thanks.
That was a great lesson, now where can I get the little gear? I have a 94 850 Volvo wagon, where do I find the real total miles?
Thanks, Richard
please sent me an answer to my email.
I just got a 1995 Volvo 960 today and realized the speedometer and odometer do not work. Also to Richard’s question, how do I find the actual mileage? I find it hard to believe that a 17 yr old car only has 98,000 miles on it.:)
And Yes this was a good lesson, great pics, but I know I would not be able to do this. How long does this process take? I could give it the old college try, lol. I’m pretty good with small intricate things, but feel I will screw it up. Never done mechanical work.