Toyota MR2 Mk1 and Mk3 review: Retro Road Test

Summer has finally arrived, so you might be tempted to treat yourself to some weekend wheels. And if you have £5,000 or more to spend, you could do much worse than Toyota’s ‘midship runabout 2-seater’. 

For this Retro Road Test special, we borrowed a first- and a third-generation MR2 from Toyota UK’s heritage fleet. Which one of these two modern classics should you spend your money on?

MR2 Mk1: What are its rivals?

Launched in 1984, the original MR2 was intended as a fun-to-drive sports car that would also be relatively cheap to run.

It was unusual in its mid-engined layout, but its compact dimensions complied with strict Japanese regulations. It arrived around the same time as rival 1980s coupes like the Fiat X1/9, Volkswagen Scirocco and Honda CR-X.

MR2 Mk3: What are its rivals?

The third-generation MR2, launched in 1999, was a different proposition to its predecessors. While it retained a mid-engined layout, this car was a proper convertible.

It was closer in concept to the wildly successful Mazda MX-5 and the (also mid-engined) MGF.

MR2 Mk1: Which engines does it use?

The original MR2 shared its naturally-aspirated, 1.6-litre four-cylinder petrol engine with the more mainstream (and terminally dull) Corolla hatchback.

It produced 128hp in UK-market guise and could hit 62mph in less than 9.0 seconds – quick for its time, and faster than its peers, too.

MR2 Mk3: Which engines does it use?

By this third-generation model, the MR2 had a 1.8-litre four-cylinder naturally-aspirated engine. Like its predecessors, it featured dual overhead camshafts and 16 valves – while the camshaft timing was adjustable using Toyota’s VVT-i system.

The car’s modest kerb weight meant it could hit 62mph in between 6.8 seconds and 8.7 seconds, depending on the transmission (five- and six-speed manuals were available, along with a five-speed sequential ’box.

MR2 Mk1: What’s it like to drive?

The 1987 example we’re testing here still feels incredibly sprightly, even though it’s probably lost a few horses over the years – and wasn’t, by Toyota’s admission, the best example when we tested it. With the engine’s weight sitting close to the rear wheels, it’s clear from the start that the original MR2 offers extraordinary levels of grip. Give it the beans from a standstill, for example, and you have to be very clumsy with the clutch for the wheels to (briefly) spin up.

Despite its lack of power assistance, the steering is light (perhaps overly so) when you increase speed – something that’ll happen swiftly as you work the twin-cam engine through the gears, changing up close to the 8,000rpm redline. It has an appetite for being driven hard and encourages you to do so.

While the old Toyota won’t see which way a newer hot hatchback went, it provides one of the most enjoyable classic driving experiences for the money. The sound, steering feel and unusual driving position combine to make it a wonderfully analogue experience.

MR2 Mk3: What’s it like to drive?

After driving the first-generation MR2, the Mk3 feels a little bland at first. Its interior is very dull in comparison; while the Mk1 feels wonderfully 1980s, the recent model is more what you’d expect from Toyota. In other words, lots of black plastics and nothing particularly exciting.

Spend some time getting to know the third-gen MR2, though, and it’s equally likeable in a different way. Just like its predecessors, its mid-engined handling provides oodles of grip, while its diminutive dimensions give you lots of confidence for threading it down rural roads.

While it’s not as playful as a Mazda MX-5 (if you get the rear out, you’ll probably need more than a dab of oppo to straighten it up), it does feel more agile. Turn into a bend and it shrugs off any thoughts of understeer.

MR2 Mk1: Could I drive it every day?

We quite often say this in Retro Road Tests: you could drive the Mk1 MR2 every day, but it’d be a shame to. Its limited storage space, lack of refinement and the potential to break down (yes, it’s a Toyota – but a very old one now) mean you’d probably start to dislike it fairly quickly.

Save it for the weekend, though, and you’ll relish every mile behind those pop-up headlamps.

MR2 Mk3: Could I drive it every day?

If you’re looking for a car to daily-drive, the Mk3 MR2 is a far more realistic option. It feels quite modern inside – lack of touchscreens notwithstanding – but don’t be fooled into thinking this car is practical.

Boot space is also tiny: barely sufficient for a couple of weekend bags. And you’ll also have to take it easy in inclement weather, as the Mk3 isn’t averse to swapping ends when grip turns to slip.

MR2 Mk1: How much should I pay?

Prices for the original MR2 have strengthened in recent years. It’s definitely one of those cars where it pays to spend more money on a cherished example than be tempted by the cheaper end of the market.

You can pick one up from around £5,000, but it will probably need some bodywork in the near-future. And there is no shortage of suspension parts that could need replacing to make it drive like new: bushes, droplinks, shock absorbers and springs all wear with age. The best cars are now priced comfortably into five figures.

MR2 Mk3: How much should I pay?

Prices for the Mk3 MR2 are generally lower than the Mk1. You could spot what appears to be a bargain, but they tend to be leggy examples with unenthusiastic owners who may have skimped on maintenance.

Ideally, we’d be looking to spend at least £7,000 on a 2003-or-later example of Toyota’s mid-engined roadster.

MR2 Mk1: What should I look for?

Rust is the big issue with early MR2s. They rot everywhere, including the wheelarches, wings, B-pillars, A-pillars and sills. A fibreglass bodykit makes it easy for rust to be hidden, so make sure you get underneath the car and have a poke around.

The engine is fairly robust, but you’ll want proof of regular servicing. Listen for a tappety sound on start-up – not a huge concern, but a sign it may not have been maintained as well as you’d like. And check for smoke coming from the exhaust tailpipe, too.

MR2 Mk3: What should I look for?

In the first instance, look out for signs of how well the car has been treated. Has it got many marks on the body, do the panel gaps look even, are all the tyres a good brand with plenty of tread, and does the owner have a folder full of paperwork?

Earlier models can often face excessive oil consumption, while abused examples that have been thrashed from cold can suffer from the pre-cat breaking up and being sucked into the engine. A costly fix.

Although the third-generation model doesn’t suffer from rust as much as older examples, the rear crossmember is known to corrode. And it’s usually disguised by an undertray, meaning it won’t be picked up by the MOT test.

Which one should I buy?

In reality, whether you should buy a Mk1 or Mk3 depends largely on what you want from a car. If you want a project that will attract admiring glances at a classic car show, and you are happy to tackle regular maintenance, you should invest in an early MR2 while you still can.

The Mk3, despite its limitations in a practical sense, is a much more usable car today. If you pack light and want to go on a European road-trip, you can feel pretty reassured it will get you there – and in greater comfort than a Mk1, too. A tidy car is probably a safe place to put your money and you’ll love every minute at the wheel.

And if you gave this writer £10,000 and told him to buy either a Mk1 or Mk3 Toyota MR2? I’ll take the original, thanks.

Toyota MR2: Pub fact

The third-generation Toyota MR2 we tested here was actually one of the last cars off the production line in 2006.

One of 300 special editions, it’s badged ‘TF300’ and would have cost £18,015 when new. Each TF300 came with custom leather and Alcantara upholstery, a twin-pipe sports exhaust and its unique vehicle build number stitched into the seats.