Why a Used Toyota MR2 Spyder Is the Perfect Low Budget Mid-Engine Sports Car

Launched in October 1999 in Japan and six months later in the United States and Europe, this nimble, lightweight, mid-engine Toyota was developed with pure driving pleasure in mind.

Compared to its iconic predecessor, it had a smaller 1.6-liter engine as the only available option, but the 2,195-lb (966-kg) curb weight made it lighter and just as fun to drive.

The MR2 Spyder was built until 2007, but before production came to a halt, Toyota gave it a hefty refresh in late 2002, which included a facelift, stiffened chassis, 16-inch rear wheels, a six-speed automated manual, and a revised suspension system.

It’s reliable

Fourteen years after the last model rolled out the assembly line, many of them still roam the streets in good condition, proving that the third-gen MR2 has withstood the test of time.

Good for 138 hp (103 kW), the 1ZZ-FED VVT 16-valve twin-cam straight-four is a classic yet modern all-aluminum unit that is just as reliable as any Toyota engine if well maintained.

One known issue you should look for is pre-cat failure. Due to age and oil leaks of neglected engines, the two ceramic pre-cats are known to fail, especially on pre-2003 models.

The main symptoms are excessive exhaust smoke, especially on a cold startup, and increased fuel consumption.

You’ll find the engine linked to a five-speed manual on most used Spyders out there, a gearbox that is also well built and won’t cause any major problems, even on higher-mileage models.

The car was also equipped with a six-speed manual (Europe only) and either a five- or a six-speed automated manual, but the latter are rare, not as fun to use, and may suffer from control unit issues.

It handles extremely well

The 138 hp delivered by the engine might not impress anyone, especially on paper, but considering the car is small and very light, the mid-mounted four-cylinder will feel a lot more powerful in practice.

Because of the engine layout and low center of gravity, the weight is extremely well distributed. Combined with the fully independent suspension system, the car handles superbly.

It has excellent brakes

Another advantage of the low overall weight and even distribution is that the car will stop exceptionally well.

All models are fitted as standard with 254-mm ventilated rotors and ABS on all four wheels.

If you find a rarely used model, check the state of the rear calipers which can case over time. Also, the handbrake cables can suffer from the same problem.

These problems shouldn’t occur on high mileage models but for your peace of mind, check if the pads and rotors have been replaced and the handbrake holds.

What to look for when buying one

From a mechanical point of view, apart from the potential pre-cat issue I mentioned earlier, make sure that the lambda sensors are in good shape. Any problems with them should show up in the form of a fault code during a quick scan, so ensure that you perform a pre-purchase inspection to avoid any hidden issues.

The bodywork and frame aren’t particularly prone to any major issues, but since we’re talking about an older car, those should be checked carefully for rust. Since this is a mid-engine car, a particular point of emphasis should be the rear subframe.

Another component you should analyze thoroughly is the condition of the soft top. Again, since this is an older car, the elements are sure to damage it in time, especially if exposed to the sun for extended periods.

A used Toyota MR2 Spyder in good condition can be yours for as little as $8,000, and low mileage models are available for around $13,000. Considering prices are beginning to rise, buying one now will not only give you a fun, well-built sports car to enjoy but can also become a good investment.