This review is based on a used 2000 MR2 Spyder with 51k miles, purchased on 5/1/2004.

This was my first real car purchase. My last one was a beat up 92 VW Fox that I bought for $700 to get me to and from my internships back in college. I lived in Manhattan for the following 9 years, where I never had a need to own a car in the city. Fast forward to May 2004... I moved to Las Vegas, started a new job, and was in the market for a used car. I knew I wanted something fun to drive and reliable with good mileage, and had to work within a budget of under $15k. Eventually I narrowed my search down to an 98-99 Audi A4 and two 00-01 MR2 Spyders. Based on recommendations from friends who were Audi owners, I assessed that European cars were just too expensive for me to maintain on my modest budget.

Driveability

Test driving an MR2 Spyder at a local used car dealership sealed my decision for me. Anyone who's ever driven one knows what I'm talking about. Spyders handle like go-karts on rails, 100% stock. With a few suspension mods (swaybars & struts), I would argue that nothing south of $50k could hold a candle to the Spyder in terms of handling, responsiveness and pure driving enjoyment. It's by no means the fastest car in it's class (although it's faster than a Boxster from 40-70mph), and it's a underpowered @ 135 hp. Speed tops out around 120 mph, and 0-60 times are modest (~7 seconds), but it's also very light, which makes up for the lack of horses.

Reliability

The 2000-2002 MR2 Spyder has not been Toyota's most reliable model to date. There have been several cases of engine failure (usually occurs within 40k miles) due to faulty pre-cats in pre-2003 models. This however, is the exception and not the rule, and there were not enough occurrences of engine failure to justify a recall, but you should do your own research and make your own decision on this. There are plenty of documentated cases of pre-cat failure at spyderchat.com. I did plenty of research on this before buying, and ended up pulling the trigger a very clean, white (w/ red seats) 2000 model with 51k miles, and a meticulous original owner who had service records dating back to the first oil change at 3,000 miles. That said, I've had absolutely no problems so far, other than a check engine light, which was linked to me not closing the gas tank cover all the way. Doh! The car looks like new and runs well like... well, like a Toyota.

As a daily driver...

I'm a bachelor, and the Spyder is my daily driver. If I had a family, I would probably not have chosen a 2-door convertible sportscar with no trunk. As most of you who are reading this review are well aware, the Spyder seats 2 and has virtually no cargo room. I can fit 2 gym bags in the compartment behind the seat, and if you remove the spare tire from the front compartment, you can fit in a medium to large soft sided bag. Of course, that could potentially leave you stranded without a spare. Not good. I've had to resort to this during airport pickups and a couple beer runs. Hey, one must have priorities! Still despite the lack of cargo space, the Spyder has serviced me well as a daily driver. On the occasions that I do need to seat 3, I just drop the top and force the smaller person to sit on the armrest. :)

A few other random cool things...

1) Gas mileage rules the sports car class @ 30-plus mpg
2) Great network for MR2 Spyder resources and information at spyderchat.com.
3) Seats are low profile so you don¡¦t look like you're sitting in a clown car as you would in a Miata or BMW Z3.
4) Glass rear window with a defroster.
5) Inexpensive to insure when compared to similar roadsters like the S2000, Z3 and Boxster.

Now for a few gripes...

1) The stock speakers are about as useful as having a transistor radio in the car. They are terribly tinny and have zero bass. When you drive with the top down, your stereo is reduced to static, even on full volume. I added a 10-inch powered subwoofer and replaced the stock speakers with JLs in my first week of ownership. The sound and the bass now fills up the whole cabin even going 100 mph... err, I mean 65 with the top down on the freeway.
2) No room for stuff (see above)
3) "That's a gay car man." I've heard this comment from 2 random passerbys so far, and a female friend called it a metrosexual car. :( I've since given the cute little white Spyder a makeover with a few mods: gunmetal Rota Grid rims, wider rear tires, dual exhaust, gunmetal roll bar and a 1.3" drop via new springs. It has given the lil bugger a slightly more aggressive look.
4) The interior of the Spyder is a bit plastic-y and spartan. From the outside, it's often mistaken for a Boxster, but no one's ever going to mistake it for a Porsche from the inside. The Spyder cabin has the trim level of a Corolla.

In conclusion...

The Spyder, which is being discontinued after the 2005 model year, is the most affordable pure sports cars on the market right now. It's lightweight, a blast to drive, inexpensive to insure, gets great mileage, handles like a go-kart, can be acquired for under $13k (for a used '00-'01), has a healthy aftermarket following as well as an active and supportive network of owners and enthusiasts at spyderchat.com. I don't plan on owning it for too long (~3 years), but it will certainly be a fun ~3 years.
Amount Paid (US$): 12800.00
Condition: Used
Model Year: 2000
Model and Options: white w/ red interior, 5-speed manual