Having owned three Contiques, I would say that they are just as reliable car as any.
For the most part the 'unreliable' aspect comes from skipping maintenance, not being prepared for when something breaks, or putting off fixing things. Don't be afraid of maintenance, these cars definitely need it.
If you're buying used without history be prepared to fix blown water-pump on a V6, possible IAC sticking, and oxygen sensors. It's also worth checking the A/C accumulator as the padding around it can cause it to rot through, but that depends a lot on your climate, and it can be removed to help prevent it too.
Other than this I've never come across a problem that isn't basic maintenance. (Except when my clutch blew). The Contour for me, over a combined 8 years on three cars has not been any worse than most vehicles I've owned.
Buying used be prepared to replace any rubber, bushings wear and perish. Also be prepared to replace rear struts, wear is a little quick on these IMO. These are all maintenance though.
