Nothing has gone wrong with the Celebrity so far.
Initially, I was turned off by the fact that this particular car did not have a tape deck. But other than that, and some rust spots here and there, I can't complain.
I had actually wanted to own an older car since 2005, after I'd had the 1995 Taurus for about a year.
This car is 20 years old, and does not have all the bells and whistles that some of the newer cars have. But what it lacks regarding bells and whistles is certainly made up for by the durability. My Celebrity was built to last, and it has certainly done that so far.
I've owned two cars manufactured in 1995, and the air conditioning did not work in either one when I first took possession of it. Interestingly enough, though I don't know the maintenance history, the air conditioning in the 1986 Chevrolet Celebrity still works, though as I say; it may have been repaired or replaced by the previous owner.
This is a good, solid car; and I am extremely happy with it. I might have a new car stereo and some new speakers put in, and I would also have the floors cleaned, and the rust spots taken care of. Performance wise however, this car is dependable. Chevrolet/GM did an outstanding job building high quality into this car.
I have a base 2.5 Celebrity. It sat for years. It runs like new. I put a water-pump in it and it was a hassle, but all sideways engines are. Headliner fell, they all do. Gas tank rusted from sitting. That's it. I love it!