Yes, the 2.3 is an in-line 4 cylinder engine. Nothing fancy but more reliable than the old Pinto unit. It also has the AL4 four-speed electronic auto transmission. Those are a bit weak, so keep to the transmission fluid change schedule and learn how to check the level properly.
You want to check the condition of the ATF before changing it. New ATF has very powerful detergents in it and if your transmission’s clutch packs are barely hanging on, changing the fluid will finish it off. Check the fluid level and the color of the fluid. It should be a clear cherry color and have a strong smell. If it’s cloudy or opaque you have real trouble.
One of the things that fails when these cars get older is the oil cooler in the radiator. The trans fluid runs through a cooling coil built into the bottom of the radiator. When older that can corrode and leak, allowing water to seep into the fluid. You’ll see some oil film on top of the coolant as further evidence. The clutch plates that transmit torque between the gearsets in the trans are made with friction material that is glued to steel plates with a water-soluble glue. If water gets in the trans, it dies.
Second problem related to this is the water drain from the area behind the engine bay, just in front of the windshield. That area has a drain to let water escape to a safe place, but if it gets clogged with leaves etc. it will flood. The water then runs off somewhere else, right onto the transmission dipstick tube. If the o-ring that seals that tube is old, the water will run straight inside the trans. Don’t ask me how I know this.
Water contaminated ATF looks just like strawberry milkshake. Change it straight away and keep flushing till the fluid comes out clean. you might get lucky. I didn’t.
If the fluid is brownish and smells burned, your clutch packs are probably toast and putting aggressive new fluid in will just finish them off. A rebuild on this trans is an expensive proposition and is often not a permanent fix. The seal kits are usually made in the US on inch machinery, where the trans was built in Germany to metric sizes. Bad combo.
The CV joints usually last a while on a 4cyl model unless the car has towed a lot or been beaten on.
The underpinnings on these cars are really solid, the platform itself goes all the way back to the early 70’s in the old Consuls and Granadas. Great car, I had three Granadas of various vintages. They are great on the freeway and with decent low profile tires handle very well.
Check that the fusebox is good, no fuses melted in there or signs of overheating / fire. The car has power everything and sometimes things get a bit hot in there.
The Bosch flap-door airflow meters and throttle position sensors are a bit prone to wear. If the car won’t idle properly or bogs off idle that’s a good place to start looking.
I also change oil at 5000km whatever. It’s always filthy at that time, regardless of whether the oil is broken down or not, and the filter needs changing that often. Buy your own oil at the supermarket and save $$$.
More info here.
WH: IIRC the 16V 2.3i also has chain driven double overhead cams.