We run a ford edge 2.0 it is only rated at 1500lbs. We tug a 13 foot Scamp
around 1200lbs I think.
I put on my own hitch no big deal, hooked up the 6pin connector it has no brakes
. We have had no problems I do stay out of o/d a good habit for anyone I think if you want to keep your transmission.
From my experience through the years manufactures are very conservative on their ratings. Since that Volvo is rated 5,000 I see no problems.
Once word of caution before you start any adventures have all your fluids changed. If doing a lot of towing cut your changes in half especially with your older car. I would check my oil every time I gassed up also!
As has been mentioned check your manual and find a Volvo site to learn about towing with your rig!
Best of luck