Mazda MX-5: Catch It While You Can
The cheap Mk1 MX-5 is a classifieds staple but are supplies starting to dry up?

I used to be pretty ambivalent about MX-5s, dismissing them as a clever piece of plagiarism. Mazda took the Lotus Elan's styling, added some Triumph Spitfire character, and synthesised these elements with its own drivetrain into something your mother clearly would like, creating the ultimate affordable roadster. But it wasn't that effortless - Mazda sunk huge resources into the MX-5's development, passing over some very interesting ideas along the way before settling on the definitive classic.
I saw them as another of those nails in the British car industry's coffin, recalling how Rover design boss Gordon Sked once said that he 'felt like crying' when he saw the first MX-5 at its launch in 1989, knowing that if his company had been braver in the 1980s, it could have launched something quite similar - proudly wearing the MG badge - several years before. Instead, Mazda profited hugely, launching into a market with no really credible opposition. And the industry took years to catch up. Including MG.
We've already declared the MX-5 a true PH Hero, and it should be about here where I declare that my scepticism was blown away the first time I drove one, about 15 years ago. That all changed when a former boss lent me his and, from the moment I stepped in, I found myself enjoying revelation after revelation that came from some truly great drives. After several days I decided I didn't want to give it back, suggesting he might want to swap for my Peugeot 405Mi16. He didn't go for it.
Strangely, I've still to sneak one into my garage. Perhaps because they're too good, and I enjoy a more flawed ownership experience. That might explain why whenever I've gone down the affordable roadster route, I've invariably plumped for an MGF. And then end up regretting it.
But time marches on - and the car that we once all called the modern reincarnation of a classic roadster is now a classic in its own right. 25 years is more than enough justification stop being sniffy, and accept it as the younger alternative to something like an MGB. But with the added advantage that it handles and drives beautifully straight of the box. Of course, there's a downside to a car's path into classicdom, not least that as the bangers, scrotters and smokers disappear, values start to shift upwards. Good if you have one, less so if you want one.
But the good news is that if you're looking for an MX-5, there are still a few less tidy, and very usable, ones around to get you on the ladder - and for proper shed money, too. As a tool for quick summery blasts, or the odd track day, you really can't beat a cheap MX-5, as long as you're okay with a MIG welder, accept that it's not fast, and don't mind some scruffiness. But the chod is beginning to disappear, and the nice ones are starting to creep up in value, especially if you want one of the earliest - and most appealing - 1.6-litre full-power cars. And be prepared for a long search if you're particularly choosy.
Although those 1.6s are the ones that will probably go on to be worth the most in years to come, they're not the best overall. That accolade goes to the later 1.8-litre cars, developing a full-fat 130hp, making them the most fun of all MX-5 Mk1s. The 1.8 is quicker, more usable and, most importantly, less susceptible to rust around the rear of the sills - a big deal as this is a common issue along with corroding front chassis rails. Keep on top of it and you have a car capable of racking up big mileages though.
Go for a later car, and buy from someone who clearly loves their MX-5, and you can be content in the knowledge that you're purchasing at the bottom of the market for these cars, and you're unlikely to suffer from any depreciation, unless you're very unlucky indeed. This one seems a good example of what I mean - and although I'd be looking to see that the lowering job is reversible, there are good vibes emanating from the page, which reads like a novel. It looks worthy a punt for your £1,500.
For those who side with Chris Harris, it's easy to dismiss the MX-5. But for the rest of us - and there are many - owning one of these is a great opportunity to pick up a fun, reliable, rear-wheel drive roadster for very little money. The situation won't last forever, of course, so act now if you're looking to secure a good one, and keep it nice for the future. As for me, I'll probably continue to ignore my own advice, stick with flaky mid-engined MGs, deciding to take the plunge when they're all gone.
- Shameless plug <removed>
I find a few things in the article a bit odd though. Most I speak to say the revvy nature of the 1.6 makes it a nicer engine to use.
Also, how does the 1.8 engine make tin worm less of an issue? I could understand if you said imports, but most cars were imported so long ago that it doesn't really make much difference.
In 1985 the V705 was completed and was rolled out on the roads around Santa Bargara U.S.A where it was welcomed with positive reactions. (excerpt from http://www.mx5motors.com/MX5%20History.html)
I honestly can't think of a cheaper way to own/run a car at the moment. You won't lose any money on one and insurance is £165 a year at 27 - about a quarter the price of my main car...
1991 Mk1
BRG
Tan Leather
Coilovers
flying Miata turbo install
Megasquirt
was around 225bhp
Loved that car, if I could track it down it would be back in my garage.
I've got a Mk3 these days which, IIRC, I'm enjoying just as much if not more than our last MX5. I've had a good number of cars in the intervening 7 years though so memory is bit misty!
They all had way too much rot, major mechanical gremlins, or a list of niggles so long it would have taken me an age just to sort them all out.
There seems to be a never ending list of stories of people finding one in perfect condition for peanuts, but I couldn't find even a half decent one for reasonable money. I'm sure they are out there but the search to find one may take a while....
shame though as I really wanted one
still do in factSecond was a Sept 1989 Eunos 1.6 which was a fantastic little car.
Currenty have a not perfect 2003 mk2.5 1.8i, and wifie runs a 2012 z4.
There are still quite a few around for less than £1000 but £1500 is probably a realistic starting point unless you are very lucky. thats going to buy you a clean but old mk1 or a newer but probably in need of some work 2 / 2.5.
Look forward to the gt86 to add to the collection in another 5-10 years

The 1.6 is the better engine in my opinion, and I like to think i'm entitled to that opinion seeing that I own one of each. It's far more revvy, feels lighter and much more spritely. The 1800 feels much more like a normal engine, slower to respond and yes OK it's torquier but it's no where near as much fun. The 1.8 driveline is stronger and my MK1 has a 1600 engine, MK2 RS 6 Speed, MK1 1.8 Torsen LSD, which is pretty much the perfect combination for my needs.
Also, both 1.6 and 1.8 rust badly, they are the same shell. It simply depends how many UK winters it's lived through.
Mine is a 1.8 import and modified and yellow so probably not a likely contender to shoot up in value any time soon, although it is in great nick. Hmmm, decisions, this article hasn't made my choice any easier.
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