If the prospect of owning a good Mazda MX-5 Mk1 is fading as prices rise, how about a Mk2 one instead? True, it’s not as pretty and it has an even worse reputation for rust, but as the years roll by, it seems less bland, while a wire brush and lashings of Dinitrol anti-rust proofing should keep the worst of it at bay.
If Volkswagen ever thought launching a new Volkswagen Golf was tough, launching a new MX-5 must have been harder still for Mazda’s dutiful executives, still reeling from the success of the original. Of course, it could never be a straight copy but, even so, the absence of the Mk1’s pop-up lights – a move forced on Mazda by US safety officials – was a blow. A bit like when BL was forced to replace the MG B’s traditional chrome bumpers with ugly rubber affairs.
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Still, what else were you going to buy back in 1998, especially since word was that the car possessed the same sweet, rear-drive handling, delicate steering and crisp gearchange (plus some extra kit including a heated glass rear window) that had made the Mk1 such a winner?
Twenty-one years later, these very qualities continue to attract second-hand buyers, especially now that prices for Mk2s begin from as little as £350 for runners with an MOT. In fact, they don’t really go any higher than £3500 for the best cars. In part, they’re held back by the Mk3, which kicks off at around £2250 but also by demand for clean Mk1s. You’ll easily pay £6000 for a good one of those.
Condition and not age or specification or size of engine is key to valuing a Mk2. You’re just as likely to find a tatty but late-plate 2004 1.8i Sport for a few pounds as you are an early but bright 1998 1.6 for a few thousand. Those two engines are your lot. The 140bhp 1.8 Sport had a Torsen limited-slip differential and 15in alloy wheels.
