We bought an '06 S40 new. Cross-shopped the Mazda3 and some others at the time, and my wife liked the way the Volvo drove best, and the price was about the same, so we got the Volvo.
Eight and a half years later, and my wife loves this car more than the day she got it. She has zero interest in even looking at anything newer, and intends to keep it at least another 2 years, probably longer. She may keep it forever.
And I see way. It's a good looking, little sedan. It drives very well, handles way better than one would expect, it's supremely comfortable (albeit a bit short on legroom) and built like a tank. It's just a great little car.