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Volvo: 87 855, smog inspection, vacuum leak


Question
I need a test only smog inspection (California) on my 855 w/180,000 m.
Took to dealer for check engine light.
Dealer says, only 130 pounds of compression in #5, as opposed to 225-235 in 1 thru 4.
Says they think check engine light due to misfires in a couple cylinders, plus minor vacuum leak-suggest fix vacuum leak and tune up.
After I spend $450.00 more for that (diagnose cost $300), is it likely to pass smog w/the low compression? Valve job will cost $5,500.
Also, ABS quit a couple years ago, speedometer/odometer quit two weeks ago when I installed a new battery, but they claim a blown fuse in ABS (for $750.00 more) caused speedometer/odometer to quit.
Also needs r. ft. engine mount ($190), anti-sway bar riser rods ($215), rt. control arm/alignment ($370).
I'm thinking let them fix vacuum leak, change plugs/cap/visibly bad wires,visibly bad air clearer myself, run gas cleaner thru fuel tank (to maybe help compression), and see if it will pass smog.  If so it's worth it to fix the suspension (but not the ABS or do the valve job), and drive it two more years.
Any thoughts?

Answer
Mike,
I do not know what part of the inspection it failed. If the car continues to misfire it will not pass. There will be to much unburnt fuel showing up as HC's. After the tune up the shop should be able to run the car on their HC/CO tester and see what the reading are. That should tell if it will pass or not.
With the mileage the repairs are a toss up. I would say time to make minimum repairs and consider a newer car.