I had that exact same year and model back a couple years ago. It's not fast, it wasn't pretty, but it got me from my apartment to college in northern Michigan (Traverse City, MI to be exact). Then I brought it down here to NC when I went to school here in Wilmington and it worked until it just wouldn't start one day. Probably was a bad starter, but I didn't feel like putting more money into it, so I bought a another used car and had them tow mine off.
Mine did have problems with the rear brakes locking up, even under just moderate pressure. Didn't know why that happened though. But for $300, if it runs, I say buy it until it breaks down on you.
It also survived an accident when I rear ended someone. I was going around 40 they were going around 10 (and turning into a parking lot). Smashed up the front of the car, and bent a piece of the frame, but it still ran.
It also had a cool thumping car stereo (before I knew what an audiophile was). THen it was broken into and stolen. ALl in all, it was a fun car to tow four of my friends around in to the beach and around town. DIdn't pick any babes up, but hey I don't need a car to do that 😉