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Collector and Classic Car Insurance for Less

Guide to Buying a Toyota MR2

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Buying a Toyota MR2? From 1984 to 2007, Toyota produced the stunning MR2, a sporty, mid-engined vehicle with rear-wheel drive. The car’s name was an acronym for “Midship Runabout 2-seater,” and it provided drivers with sleek style, excellent fuel economy, and impressive speed and handling. 

The MR2 was also a landmark vehicle for Toyota, as it was both the manufacturer’s and Japan’s first rear mid-engined production car, and it even won Car of the Year in Japan in 1984. 

If you’re in the market for one of these classics, you need to know how much you should expect to spend as well as different factors that may impact its value. In this guide, you’ll learn all about buying one of these unique cars. 

MR2 Toyota Specs 

Before buying a Toyota MR2, it’s important to be aware of the cars’ specifications through the years, as classic vehicles are worth more when they come with factory-correct parts. 

The first-generation Toyota MR2 came with three engine options: the 1.5 L 3A-LU I4, the 1.6 L 4A-GE DOHC I4, and the 1.6 L 4A-GZE supercharged I4. The Turbo MR2 engine became available in the United States in 1988 and boasted a small supercharger as well as a Denso intercooler. It featured a compression ratio of 8:1 and produced 145 hp at 6,400 rpm. Further, it boasted 137 foot-pounds of torque at 4,400 rpm and could go from 0 to 60 in between 6.5 and 7 seconds. 

These engines were typically paired with the car’s standard five-speed manual transmission. Buyers could also obtain an automatic Toyota MR2, but these are now worth less than their manual counterparts.  

The second-generation MR2, known as the MKII, offered two impressive engine options for U.S. markets: the 2.2 L 5S-FE I4 and the 2.0 L 3S-GTE turbo I4. The SF-FE had a factory output of 130 horsepower and 145 foot-pounds of torque. Like the first-generation MR2, drivers could mate this engine with either a four-speed automatic or a five-speed manual transmission.

The 3S-GTE turbo, on the other hand, only came paired with the five-speed manual transmission. The engine produced 200 bhp at 6,000 rpm and 200 foot-pounds at 3,200 rpm of torque. 

Buying a Toyota MR2 

The amount you should expect to pay when buying your Toyota MR2 will depend on various factors including the model, trim package, whether it has factory-correct parts, and the condition of the vehicle. Additionally, the car will be worth more if it’s a manual version and if it includes the limited-slip differential option.   

Because so many factors can impact the market value of an MR2, the amount they sell for ranges greatly. As of 2023, the average selling price for a Toyota MR2 is $19,591. Some MR2 examples sell for as low as $4,000 while others change hands for above $60,000. The higher-selling MR2s are typically turbos, as they often sell for twice as much as the naturally aspirated MR2s, and some model years are worth more due to limited production. For instance, 1995 MR2 Turbos are often incredibly expensive because Toyota didn’t produce many units in the United States.   

Another important note is that many collectors recommend opting for a later model year, such as the second-generation MR2 produced from 1990 to 1995. 

Is the Toyota MR2 a Good Investment? 

Although they’re not in high demand, the Toyota MR2s are steadily increasing in value. The reason is due to the limited production of these cars, and as time passes, fewer authentic MR2s are available in classic car markets. Toyota sold under 300,000 units globally during the MR2’s lifespan, so these classic sports cars are steadily appreciating.  

Get the Best Insurance for Your Toyota MR2

If you’re thinking of buying a Toyota MR2, you need to be on the lookout for high-quality classic car insurance that will protect your investment for years to come. 

Fortunately, you’re in the right place — Classic Auto Insurance provides top-of-the-line insurance perfect for your classic and collector cars. Our policies are based on agreed-upon value rather than stated value, meaning we’ll work with you to determine how much your car is worth and create your policy based on that agreed-upon figure. If the worst-case scenario happens and you total your Toyota MR2, you’ll receive the full agreed-upon amount minus your deductible.

Our policies also include unique benefits, such as inflation guard, rollover miles, nationwide roadside assistance with flatbed towing, and more. 

If you’re ready to learn more about protecting your cherished vehicles, call our insurance experts at 888-901-1338, or you can get an instant quote

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