Inspect and Understand the MR2 Mk1
Arranging an inspection is a vital part of buying a first generation MR2. Do not buy a used car sight unseen, especially an old Mk1 MR2. It is recommended that you try to look at the vehicle at the seller’s house or place of business to gain a rough idea of how and where the car has been stored.
To minimise the chance of a seller pre-warming the car or cleaning up issues, such as an oil leak, arranging to see the car in the morning is suggested. If the roads the MR2 is regularly driven on are really rough, you should pay increased attention to the suspension and underside of the vehicle. When inspecting the car, it is best practice to take a mechanically inclined companion with you, as they may spot something you have missed.
Water can hide numerous issues with the bodywork; if you inspect a Toyota MR2 Mk1 in the rain, you must return for a second viewing. Similarly, watch out for sellers who have freshly washed the engine bay or underside of the vehicle, as this may be a sign of an underlying problem.
When considering the value, Bring a Trailer data shows sale prices on platforms like bringatrailer.com range anywhere from US$5,000 to upwards of $30,000 for a very low mileage example. Supercharged models in excellent condition, such as Super Editions, are valued higher than naturally aspirated cars in poor condition.
Maintenance and Sourcing
Maintaining a first generation MR2 has become more expensive over the years because parts have become scarcer. These cars are reliable if kept in good condition, but a bad example will drain your wallet quickly. Specialist Toyota mechanics are available, but the lack of parts is the main issue. We suggest you keep at least a couple of thousand dollars back for any extra unforeseen costs.
If you seek a really good example, you can check owner’s clubs. The MR2 Mk1 Club, established in 1995, promotes the Mk1, and while it is based in the UK, it has members globally. Other resources include specialist auction sites such as bringatrailer.com, and various classified sites.
The first generation MR2 is considered a classic, and prices have been appreciating over the last few years. However, second generation MR2s (the SW20) are currently seen as more desirable.
Read the full guide: Toyota MR2 Mk1 Buyers Guide
