Is the Toyota MR2 Still the Ultimate Affordable Mid-Engine Sports Car?
Why Are Enthusiasts Suddenly Talking About the MR2 Again?
If you’ve been keeping an eye on the used sports car market, you’ve probably noticed something interesting: the Toyota MR2, especially the third-generation model, is getting a lot of buzz. Prices for earlier MR2s are creeping up, and it’s got people wondering—are we about to miss our last chance to snag a true mid-engine hero without breaking the bank?
The MR2 has always had a cult following, but lately, it feels like the secret’s out. Maybe it’s nostalgia. Maybe it’s the realization that cars like this just aren’t being made anymore. Whatever the reason, the MR2 is back in the spotlight, and for good reason.
What Makes the Third-Generation MR2 Stand Out?
Let’s cut to the chase: the third-gen MR2, launched in 1999, is a car that doesn’t try to be anything it’s not. Toyota’s engineers went on a serious weight-saving mission. They stripped out anything that wasn’t absolutely necessary—steel, aluminum, plastic, rubber, you name it. The result? A featherweight 960 kg roadster that’s all about the drive.
But there’s a catch. Storage space is, well, almost comically limited. Forget about packing for a weekend getaway unless you’re traveling solo and don’t mind using the passenger seat as your suitcase. There’s no boot, barely any room under the bonnet, and only a couple of tiny cubbies behind the seats. If you’re looking for practicality, this isn’t your car. But if you want pure, unfiltered driving fun, the MR2 delivers in spades.
How Does the MR2 Compare to Rivals Like the Lotus Elise?
It’s impossible to talk about the MR2 without mentioning the Lotus Elise. The Elise is even lighter—up to 210 kg less, in fact. But here’s the thing: the MR2 is a lot more affordable, a bit more civilized, and almost as much fun. You get a neatly folding roof, a comfortable cabin, and a car that’s genuinely usable as a daily driver (if you pack light).
Toyota kept things simple under the hood, too. There’s just one engine—a 1.8-liter four-cylinder making 136 bhp (later models nudged up to 138 bhp). Early cars came with a five-speed manual, with an automatic and a six-speed arriving later. Even with the extra weight from the added gears and some body stiffening, the MR2 stayed true to its lightweight roots.
Is the MR2 Actually Fun to Drive, or Is That Just Hype?
Let’s be honest—numbers on a spec sheet only tell part of the story. The MR2’s 0-62 mph time of 7.9 seconds might not sound earth-shattering, but the way it delivers that speed is what matters. The engine loves to rev, and the car feels alive on twisty roads. It’s the kind of machine that begs you to take the long way home.
Real-world reviews back this up. On challenging roads—think Mediterranean mountain passes or your favorite local B-road—the MR2’s chassis balance shines. It’s forgiving, playful, and confidence-inspiring. Some early test drives were marred by slippery road surfaces, but on decent tarmac, the MR2’s grip and composure are hard to fault.
What About Reliability and Running Costs?
One of the MR2’s biggest selling points is its reputation for reliability. These cars are known to rack up six-figure mileages without breaking a sweat, as long as they’re properly maintained. There is one caveat: some engines have suffered from catalytic converter failure, which can cause serious damage if not caught early. But with regular checks and a bit of mechanical sympathy, most owners enjoy years of trouble-free motoring.
Running costs are refreshingly low for a sports car. Insurance is reasonable, parts are widely available, and fuel economy is decent—especially compared to thirstier rivals. It’s a car you can actually afford to drive, not just admire in the garage.
Why Are MR2 Prices Still So Low—and Will That Last?
Here’s the kicker: despite all its charms, the third-gen MR2 is still shockingly affordable. You can find well-used examples for under £3,000, though prices are starting to firm up as more people catch on. The combination of reliability, driving fun, and that mid-engine layout is hard to beat at any price.
But here’s the thing—these cars won’t stay cheap forever. As the market for analog, lightweight sports cars continues to shrink, demand for the MR2 is only going to grow. If you’ve ever dreamed of owning a mid-engine roadster, now might be your best shot.
Is the MR2 Right for You?
Let’s be real: the MR2 isn’t for everyone. If you need space for luggage, kids, or even a big grocery run, you’ll be frustrated. But if you crave a pure, engaging driving experience—something that puts a smile on your face every time you drop the top and hit the open road—the MR2 is tough to beat.
It’s a car that rewards you for traveling light, thinking less about stuff and more about the journey. And in a world where cars are getting heavier, more complicated, and less connected, that feels pretty special.
The Bottom Line: A Modern Classic Worth Grabbing
The Toyota MR2 isn’t just a bargain—it’s a reminder of what makes driving fun in the first place. Light, agile, reliable, and packed with character, it’s a car that punches well above its weight. With prices still within reach but rising fast, there’s never been a better time to take the plunge.
So if you’re tempted, don’t wait too long. The MR2 might just be the best-kept secret in the sports car world—but probably not for much longer.