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Used Toyota MR2 review: 1987-2006

EXPERT RATING
6
Ewan Kennedy reviews the 1987-2006 Toyota MR2 as a used buy.

The introduction of the hugely successful Toyota 86 in 2012 has revived the long history of sporting models from the Japanese giant. Amongst these is the purebred Mid-engined Runabout 2-seater named the Toyota MR2. When launched in 1987 the MR2 was promoted as an excellent choice for those hankering after a mid-engined, two-seat Ferrari but with a rather more limited budget.

True sportscars and all Formula racing cars have a mid-mounted engine to provide the best possible handling balance and traction. However, there are some drawbacks in the handling department. 

Like many other mid-engined cars the Toyota MR2 can be tricky when it approaches its limit of adhesion

Like many other mid-engined cars the Toyota MR2 can be tricky when it approaches its limit of adhesion. The difference between being in control and out of control is relatively narrow. Those without proper training and/or who drive in a sloppy manner should perhaps go for a less pure car than the MR2. But, if you only want a cruiser and have no intention of driving it hard an MR2 may work well for you. 

At-the-limit handling improved with the second-generation Toyota MR2 of March 1990 and again with a revamp of the suspension in February 1992. 

Nevertheless, it is still wise to exercise caution if you push the car hard on an unknown road. Racetracks, yes, quiet country roads with no help at hand, perhaps not...

The MR2 is typically Toyota in the reliability stakes in that it can run for years on end without problems. That is with good driving and maintenance, this is after all a sports model and some have been thrashed or even pushed to the limit at racetracks.

As it is strictly a two-seater, the Toyota MR2 is relatively spacious in its cabin because there's not need to compromise on squeezing in another pair of seats.

Boot space is better than average for a car of this type and the little Toyota runabout is capable of holding a week's shopping, or even holiday luggage if you are careful with your packing.

Until the third-generation model of 2000 the Toyota MR2 was a closed coupe with a targa top, from then on it was a full convertible and received the European tag of Spyder. 

From October 1987 until March 1990 the MR2 was powered by a four-cylinder engine of just 1.6 litres. A 2.0-litre unit in the gen-two coupe significantly improved performance. The MR2 convertible has a high-tech 1.8-litre four-cylinder engine and is by far the best in the performance stakes.

A conventional five-speed manual gearbox is fitted in MR2 coupes. However, the convertible has a sequential setup in which the driver doesn't have to use a clutch pedal but still has to make all their own gearchanges. Like all of its type the sequential manual is an acquired taste - can't say we've ever really acquired it...

The sequential manual gearbox (SMG) had five forward ratios until late 2002 when a six-speed unit was installed, 

This Toyota sports is not an easy car to work on as the engine/transmission assembly is hard to reach. Professional mechanics generally remove the complete transaxle and work on it on a stand. If you don't have the equipment to do this yourself this may prove a very expensive car to repair.

Spare parts are reasonably priced, but bits are becoming rare, indeed many may not be stocked by Toyota. Make enquiries in your local area before going too far into the purchase process. The Toyota dealer network is huge but the remote agents probably won't have parts in stock and will have to order them in.

Insurance companies tend to be wary of full-on sports machines. Shop around for the best deal but make sure you are comparing apples with apples; ask questions if one company seems to be a lot cheaper than the others.

Toyota MR2 quietly disappeared from the Australia market in March 2006, though some may not have been sold and registered until late in the year, perhaps even into 2007.

What to look for

Signs of competition use in an MR2 are usually easy to spot: look for a roll-cage; extra instruments; bigger wheels and tyres; body kit; sports seats.

Look for heavy brake-dust buildup on the insides of the wheels and on the front suspension components. Uneven tyre wear caused by hard cornering is easy to spot - be suspicious of tyres that have recently been renewed. 

Look for previously repaired crash damage: sight along the length of the panels for a ripply finish indicating they have been panel beaten; look for a mismatch in paint colours between panels; see if there are any small paint spots on unpainted areas such as glass and plastic parts.

Finally, check for poorly repaired areas of body in out of sight areas such as in the front 'bonnet', the rear boot and the engine compartment.

Severe engine wear may make one of these Toyotas reluctant to start. It's usually worst when stone cold so try to arrange to get to the engine first thing in the morning.

If the engine smokes from the exhaust and/or the oil filler plug it's probably due for a major overhaul. Smoking is at its worst when the engine is left to idle for a minute or so, then accelerated hard.

Gearchanges should be smooth and easy, as should clutch movement.

Have a good look at the interior, including under the carpets, in case an MR2 convertible has been caught out in the rain with its top down.

Car buying tip

Shop around for finance and insurance with the same thoroughness as you put into shopping for the car itself.

Pricing

Year Price From Price To
2006 $4,510 $6,710
2005 $4,290 $6,270
2004 $4,290 $6,490
2003 $4,290 $6,270
2002 $4,290 $8,690
2001 $6,160 $8,690
2000 $6,160 $8,690
1999 $4,510 $13,530
1998 $4,510 $13,420
1997 $4,180 $12,870
1996 $4,180 $12,870
1995 $4,180 $12,870
1994 $4,180 $12,870
1993 $4,290 $6,270
1992 $4,290 $6,270
1991 $4,290 $6,270
1990 $2,640 $6,270
1989 $2,640 $4,070
1988 $2,640 $4,070
1987 $2,640 $4,070

View all Toyota MR2 pricing and specifications

Pricing guides

$3,355
Based on third party pricing data
Lowest Price
$2,640
Highest Price
$4,070

Range and Specs

VehicleSpecsPrice*
(base) 1.6L, ULP, 5 SP MAN $2,640 – 4,070 1987 Toyota MR2 1987 (base) Pricing and Specs
EXPERT RATING
6
Ewan Kennedy
Contributing Journalist

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Pricing Guide

$2,640

Lowest price, based on third party pricing data

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Disclaimer: The pricing information shown in the editorial content (Review Prices) is to be used as a guide only and is based on information provided to Carsguide Autotrader Media Solutions Pty Ltd (Carsguide) both by third party sources and the car manufacturer at the time of publication. The Review Prices were correct at the time of publication.  Carsguide does not warrant or represent that the information is accurate, reliable, complete, current or suitable for any particular purpose. You should not use or rely upon this information without conducting an independent assessment and valuation of the vehicle.