The MR2 is very well engineered and built. Mine has been trouble free and the quality of the engineering (good materials selection) makes the car easy to keep looking new. The handling of the 93 and 94 models is very friendly. It isn't a Lotus Elise, but it is as close as you are going to get for less than the sales tax on a new Elise. It actually is a better built car, which is probably the reason Toyota could not make money selling them.
I bought my first MR2 with over 143000 miles. Hesitate to pay the 2400 dollars, I bought it anyway and would do it again. The car was very reliable and would not break down. I thought maybe I would drive it a few years until it breaks down. It took a side collision to put her out of commission and the insurance paid me 3400 after 6 years of driving and only minimal maintenance (oil changes, brakes, clutch etc).
This '93 Turbo MR2 is a pure Japanese uncompromised sports car engineered through and through with race-bred knowledge acquired directly from Toyota's TRD racing team. This car was built for luxury and speed. It's handling will match or beat Porsches on dry roads, and it's acceleration matches or tops anything American- made. It's akin to owning a Ferrari, only it's Japanese.
Going from 2000 Celica GTS to 93 MR2, no regret. Nowadays Toyotas are crap, if they can save $1 on every Camry/Corolla they sell they can save millions per year, therefore they now use the cheapest parts possible on every car they build. No oil leak, no major problem after 10 yrs. Stunning automobile. It was in production for almost 10 yrs just like the NSX, RX7, 300ZX, etc.....The golden age of Japanese cars were early 1990s.
As I drove around town in my MKI MR2 I would dream about the day I would find my MKII. That would be the only car to take me out of my MKI. I found it, and was in no way disappointed. The styling, the performance, the ride that is the reputation of the MR2 still lives on. You would think that a 10+ year old car would be passe' but this baby will turn heads all day long! Economical and stylish, powerful and practical.