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Old 12-29-2008, 08:43 PM   #1 (permalink)
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Checking in for father-son project

Looking to buy a 3rd generation MR2 and mod it as a father-son project. Seems like a good car for this. Low cost, various body and tuning kits available, etc. Do you agree? Any comments would be appreciated.
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Old 12-29-2008, 09:15 PM   #2 (permalink)
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I don't know much about gen3's, but gen2's are plentiful and easy to work on. It really helps having a bunch of people willing to help with advice. This forum has helped me tremendously.

Welcome aboard.
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Old 12-30-2008, 04:30 AM   #3 (permalink)
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as for keeping cost low, go to mkII's ('91-'95) MR2. the cars go for $1k to 6k. Engines go for $1k to 5k. As for the mkIII'l (2000+) I haven't seem drop below $10K.
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Old 12-30-2008, 04:44 AM   #4 (permalink)
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MK1s and 2s are cheap, the MK3s are expensive (and don't look as cool IMO)
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Old 12-30-2008, 08:35 AM   #5 (permalink)
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Well depending on your financial status, that will determine if the MKIII or the MKII is the right car for you. Most people on this board will tell you that you should stick to the Gen2 cars because of biased opinions and personal preference.

Either way you can't go wrong, both cars are fun and will give you some serious bang for the buck. You've come to the right place though for advice and research for either one of these cars.

Welcome aboard.
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Old 12-30-2008, 06:01 PM   #6 (permalink)
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Thanks all. I hae been tracking some ebay auctions and I am seeing Mk3s for under $10K. Here is one for $8,450:

2003 Toyota MR2 Spyder Cabriolet Convertible SMT Manual, 100,411 miles

What do you think?

Here is the link:
eBay Motors: Toyota (item 270323395968 end time Dec-31-08 18:32:24 PST)
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Old 12-30-2008, 06:39 PM   #7 (permalink)
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Thanks for the feedback

So I have seen MK3s for under $10K on ebay. I wonder if they are dropping because of the economy? Here is one:

2003 Toyota MR2 Spyder Cabriolet Convertible SMT Manual, 100,413 miles

Is the SMT transmission solid? Are they expensive to repair when they do fail?

eBay Motors: Toyota (item 270323395968 end time Dec-31-08 18:32:24 PST)
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Old 12-30-2008, 09:05 PM   #8 (permalink)
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the gen 3 is an awesome car, my brother owns one. If you want to know alot about it, i'd go to spyderchat.com and talk to some experts there.
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Old 12-30-2008, 09:14 PM   #9 (permalink)
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i agree... depending on your budget and experience i personally would go with an mkII for a project, though an mkIII would be a great car to have
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Old 12-31-2008, 01:31 AM   #10 (permalink)
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There's a gen 3 for sale that was just recently posted on this site for less then $9K
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Old 01-01-2009, 12:18 PM   #11 (permalink)
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The SMT has the same transmission...the difference is the hydraulic clutch. I loved it on the track. I have had 2 spyders (one with a turbo and normal tranny...the other with the SMT.)and a mk1. The spyder is much better in the turns than the previous gen's however the other 2 are easier to get power out of. Are you looking for a road course car or a straight line car?
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