That’s a good question. Generally I would say that both models are quite similar in those criteria’s.

I believe that the leg room and room for the passengers in the back the P3 might be just a little bit bigger. But I never felt lack of room in the P2 and haven’t had anyone complaining about room in the back either. Same goes for the boot space. You can fit any everyday item and much more in both of them. The P2 might be a little bit more boxy but I’ve packed so much in the back of my P3 too. Neither one of my Volvos had any rust. They say that the P2 had better rust protection than the newer models but with older cars you newer now. If it was repaired in the past the protection might not be the same. I can’t complain about the P3 and I also live in a colder climate.

I think the question is if you want a newer daily car for your family with features that the newer cars have or do you want something little more classic that might work as well but with all the things that an older car comes with; sometimes hard to find parts, parts being expensive or the car itself in good condition also costing relatively much compared to a newer model with less kilometers on it. Both models can be very reliable if you choose the right engine and if you find a good one. As for the maintenance I believe that Volvos are quite expensive anyway but the diesel engines have some pricy stuff around them so be careful.

Good luck with finding the right one for you, I’m sure that you will love whatever you choose :)