The MR-2 is a great little roadster, and surprisingly practical for a sports car.
The roadster aspects first. With a mid engine and rear drive, the MR-2 is more agile around corners than any other car in its price range. Toying around with oversteer is great fun, especially with timid passengers present. The MR-2 couples a crisp, short-throw shifter with a smooth, short-gearing transmission. The gears are set just right so that it's possible to find power at any speed. The deep bucket seats are comfortable but supportive enough for tight driving.
And the practical aspects. The MR-2 gets up to 36 MPG on the highway. It has all of the reliability you'd expect from Toyota; many of its parts come from the perennially solid Corolla. I got mine for $1,500 -- quite a bargain for a mid-engine sports car.
The down side? This isn't a family car. Cargo room is scant: a week's luggage for two is a tight squeeze, and boxes simply don't fit. It's noisy at highway speeds: 70 MPH is nearly 4,000 RPM. The factory paint wasn't clear-coated, so any first-generation MR-2s are likely to have faded significantly by now.
As for the raw power: it's about average. At 115 HP, the first-generation MR-2 is comparable to the Celicas and Integras of the era. Many modern cars can pull away from my MR-2 on straight stretches. The plus side is that it averages 32-33 MPG in mixed driving.
I'm happy with my '89 MR-2. For its price and purpose, it's a great car.
Amount Paid (US$): 1500
Condition: Used
Model Year: 1989
Model and Options: Normally aspirated, manual transmission