Some gearheads like to own a "beater with a heater." The phrase refers to an older car that can get the owner from point A to point B while providing heat to its occupants, but not much else. Often, these folks have a nicer vehicle that's kept under wraps in a garage and never sees a salty road or even a rainy day. On those occasions, the old rig gets the job done.While the term beater implies a level of unreliability, some cheap, older vehicles that may assume beater duties are exactly the opposite. Take the 2011 Volvo S40 T5, for example. It's 15 years old but is fairly reliable. The car may be outdated, but the interior carries a healthy dose of luxury. The sedan is not slow, either. Far from it, because a turbocharged five-cylinder engine lives under the hood. With it, the S40 T5 produces more than enough power to satisfy the average enthusiast. Lastly, they're dirt cheap, meaning anyone who needs a car just to get around can afford one.A beater with a heater? It's a bit more than that. Volvo's Subcompact Sedan VolvoThe Volvo S40 nameplate arrived in the United States in 2000, but it had been available in Europe since 1995. Back then, Volvo was keen to break into a more affordable, mainstream market, as the midsize Volvo 850 was deemed a hair too expensive for the masses. Instead of watering down their product, Volvo created another one. At first, Volvo wanted to call the new model the S4, but Audi already had a trademark on the moniker, forcing Volvo to rethink. Hence, the S40 was born. A wagon-bodied iteration called the V40 was introduced in 1995, as well.Volvo Three years after its launch, the S40 received its first performance-oriented grade: the T4. The hot trim level used a 1.9-liter, turbocharged inline-four engine from Volvo's Modular engine family. It produced 197 hp and 227 lb-ft of torque, enough to propel the model from 0-60 mph in roughly 7.1 seconds. While both a stick and an automatic transmission were offered, only the automatic was available for the American-market S40, as the manual was not certified for use in the US.Throughout the T4's five-year tenure, the engine went through three updates. The first version was called the "B4194T" and was replaced by the updated B4194T2 in 2000. The new version stuck around for just one year before being replaced yet again by a new version, the B4194T5. All three engines produced the same power and torque, and the only updates that differentiated the mills were the engine management systems and a slight change in piston weight.VolvoIn the US, the first-gen S40 lasted until the 2004 model year, and the second-gen sedan arrived as a 2005 product. The new iteration debuted with a much rounder, more "with-it" design. However, this time, the hot S40 was named T5 because a new turbocharged 2.5-liter inline-five-cylinder engine lived under the hood. Here's What Makes The S40 T5 Tick VolvoThe 2.5-liter "B5254T3" five-banger under the second-gen S40 T5 belongs to Volvo's Modular engine family, much like the 1.9-liter inline-four it replaced in the previous-gen S40 T4. While it may sound like Volvo just glued another cylinder to the four-banger, the 2.5-liter replacement was more technologically advanced. For starters, the new engine boasted an all-new engine management system, the ME 9.0, produced by Bosch, which both upped engine efficiency and power over the older Motronic setup.Providing the forced induction was a BorgWarner K04-033 turbocharger, which worked in tandem with an intercooler. In its stock state of tune, the turbo could safely produce up to 17 psi. Some modded iterations of the B5254T3 can reportedly reach up to 20 psi on stock internals.In 2008, an updated version of the engine, the B5254T7, was introduced, taking advantage of a slightly hotter ECU tune. The new engine increased horsepower by 10 hp, while torque remained the same as the older B5254T3. Both versions of the powerplant used a forged crankshaft.Volvo The 2011 Volvo S40 T5 came with a single transmission: a five-speed automatic gearbox. In the US, the T5 came with front-wheel drive. The suspension consisted of MacPherson struts up front and a multi-link rear suspension. How Reliable Is It? VolvoLuckily, the 2011 Volvo S40 T5 retains a good bit of reliability, even 15 years after its launch. According to RepairPal, the S40 T5 ranks third out of 17 total luxury compact cars rated by the site. As for how much it costs to maintain, RepairPal reports an average annual maintenance cost of about $712, which is, reportedly, around average for the luxury compact segment. It's important to note that Volvo parts can be expensive, so being reasonably confident with a socket set will help you save on labor costs. What The 2011 Volvo S40 T5 Has To Offer VolvoIn total, Volvo offered the 2011 S40 T5 in two trim levels. At the base level sat the unnamed T5 model, with the T5 R-Design sitting as the higher-spec trim. As standard across both grades, the sedan features such as air conditioning, electric windows, and central locking, much like all other modern cars on the road. However, being a slightly more luxurious brand than, say, Honda, the S40 T5 does pack one or two goodies up its sleeve.For starters, features like a power-adjustable driver's seat, driver's seat memory, and a leather-wrapped steering wheel are standard. Its audio system is an eight-speaker setup, boasting youth-market-oriented capabilities like Bluetooth connectivity and HD Radio, both of which weren't exactly commonplace 15 years ago. Plus, 17-inch aluminum wheels came standard with the model, along with speed-sensitive power steering.Volvo Moving up to the R-Design grade nets you a few performance upgrades, such as stiffer springs, stiffer shocks, and beefed-up sway bars, keeping it better-planted through the corners than the standard T5. In addition, R-Design-spec'd S40 T5s gain a power-adjustable passenger seat and leather-trimmed seats throughout the cabin. A power-sliding moonroof also debuts as standard fare. Optionally, buyers could spring for a 650-watt, 10-speaker Dynaudio Premium sound system and a navigation system. The Cost To Buy One VolvoYou have to admit, the entire package sounds pretty enticing. With the 2011 Volvo S40 T5, you get a sub-seven-second 0-60 mph time, all-wheel drive, unique Swedish styling, and the ability to pique people's interest when you say, "I have a Volvo." While the inability to own a manual transmission does bring the party down a bit, you can still take full advantage of that turbocharged five-pot.As for the S40's current value, it's extremely cheap. According the CarBuzz Marketplace pricing trends tool (above), a base-spec 2011 Volvo S40 T5 in average condition with average odometer mileage fetches around $6,585 on the used market. Of course, individual models will carry slightly different prices depending on factors like market region, condition, and even the number of owners. However, setting aside around $8,000 or so should do the trick if you're in the market for your own '11 S40 T5.So, while you can buy it for beater-with-a-heater-like prices, its reliability, speed, looks, and equipment certainly place the S40 a step above.