Toyota has made some incredibly special affordable sports cars, especially during the 1990s. The Toyota Supra and Celica GT4 might get all the attention, but the 1995 Toyota MR2 is high on that list as well.

Interestingly, the Toyota MR2’s name hints at what makes it special. M stands for midship, while R and 2 indicate that it’s a runabout and a 2-seater. This is a configuration of an actual race car, which the MR2 was never meant to be. There aren’t many vehicles that have been able to offer that setup at that price point, even almost 30 years later. Needless to say, the MR2 made shockwaves when it first appeared! 

The Creation of the Toyota MR2

Even though it has the fundamental qualities of a sports car, The MR2 was designed to be fun to drive while still offering good fuel efficiency. The idea of an MR2 started its life in 1979 as a design experiment by Akio Yoshida, who was trying to figure out how different engine and drivetrain configurations impact the overall performance of a car. 

This led to the creation of a mid-engine prototype which was developed with input from Formula 1 driver Dan Gurney. As mentioned earlier, the car was designed to be fun to drive which meant rigorous testing as Toyota really wanted to deliver on its promise. Toyota and Gurney put the little car through its paces at the iconic Willow Springs racetrack. The Formula 1 driver then drove this car in its prototype form on the Angeles Crest Highway to make sure it performed well in real-world conditions. 

In 1984, some 5 years after the project was given the green light, it officially entered production. Powering this car was a 1.6- liter inline-four cylinder engine that made a little over 100 HP. This engine was called the 4A-GE, and it featured dual overhead camshafts. While DOHC engines are a dime a dozen today, seeing one in the ‘80s was a huge deal. Even so, the lack of power of the small 4A-GE became quite evident and Toyota addressed this with a supercharged version that could make 145 HP. 

While that still doesn’t sound like a lot, it was respectable for a car that only weighed around 2,500 lbs. The Toyota MR2 also made use of fully-independent MacPherson strut front and rear suspension tuned by Lotus. Other bits that made its focus on handling quite clear was that it had disc brakes at all four ends.

Second-Generation or 1995 Toyota MR2

Now that you know the story of the Toyota MR2’s inception, let’s get to the second-generation buyer’s guide. The 1995 Toyota MR2 is one of the better years to look for being the last year of production, of the Revision 2 model, and the MR2 as a whole in the US. 

The 1995 Toyota MR2, as well as the entire second generation of MR2, featured big changes when compared to the car it replaced. For one, the whole design of the car was different. Not only was it larger in almost every way, but it featured smooth flowing bodywork that shared similarities with high-end supercars of the time. It wasn’t long before enthusiasts began calling it the “poor man’s Ferrari”. While that sounds negative, it’s quite the opposite. Considering how attainable this car was, any comparison with a Ferrari can be considered to be a win.

The second-gen Toyota MR2 wasn’t just impressive in terms of its styling, it also made more power. This was almost a requirement as it weighed around 300 lbs more than the puny first-gen MR2. With the 1995 Toyota MR2, the Japanese carmaker ditched the supercharger and opted for a turbocharger. This turbocharged engine was capable of making 200 HP. 

A stock 1995 Toyota MR2 with a 3S-GTE was faster than a Ferrari 348, Acura NSX, and Toyota Supra to the quarter mile. Speaking of other cars, the Toyota MR2 went up against the likes of the Acura NSX, R32 Nissan GTR, and BMW M3s. Reports suggest that it is quicker around these cars at certain racetracks.

Former Top Gear and Fifth Gear host and racing driver Tiff Needell said that the second-gen MR2 “encourages you to drive with enthusiasm” back when it first arrived. The 1995 Toyota MR2 was also quite successful in motorsports as it had a big advantage thanks to its configuration. The second generation MR2 was in production for 10 years until replaced by the third and final generation.

While there’s a lot to love about the 1995 Toyota MR2, keep in mind that it was infamous for its “snap-oversteer”. Buyers of these cars had little experience with mid-engine before it, which meant they weren’t aware of how cars with this type of drivetrain configuration handled in the corners. At times, the car would surprise the driver mid-corner due to the weight distribution. Experienced drivers didn’t have a problem with this and used it to their advantage.

1995 Toyota MR2 – Engine Options

The 1995 Toyota MR2 was available with five different engine options internationally and two gearboxes – a 5-speed manual or 4-speed automatic. 

• 2.2 5S-FE I4
• 2.0 3S-FE I4
• 2.0 3S-GE I4
• 2.0 3S-GTE Turbo I4 

However, the US market only got the 2.2 5S-FE I4 and the 2.0 3S-GTE Turbo I4. The naturally-aspirated engine made 130 HP, while the turbocharged unit put out 200 HP. The turbocharged engine was also only available with the manual gearbox.

Look Out for These Problems

The MR2 is made by the car company that’s responsible for making some of the most indestructible vehicles and engines in existence. That being said, the 1995 Toyota MR2 will be 30 years old in a few years. As a result, it’s bound to have problems and wear items that have reached the end of their life cycle. 

Restrictive EGR System

The EGR system the 1995 Toyota MR2 uses is known to get restrictive or partially blocked with carbon after around 125,000 miles. When this occurs, it can cause an emissions test failure. Additionally, it can also cause the Check Engine Light to illuminate due to weak EGR flow. Addressing this problem is as simple as cleaning the EGR passages and sensor. It doesn’t take much time and parts like the EGR valve and VSV solenoid can be inspected at the same time.

Aging Oxygen Sensor 

When carrying out the above-mentioned EGR cleaning, it’s a good idea to replace the oxygen sensor. This is because the contamination affects the oxygen sensor causing it to become less responsive. This part is also quite easy to replace when carrying out the EGR fix.

Shifting Issues

While the manual gearbox has stood the test of time well, the same can’t be said about the automatic. High mileage 1995 Toyota MR2s are known to have problems with the automatic transmission. When the transmission gets close to the 140,000-mile mark, it sometimes develops an issue where it can’t shift correctly. This problem is said to occur because of a throttle position sensor that’s misaligned or a bad shift solenoid.

Worn Key

Another widely reported issue with the 1995 Toyota MR2 has to do with the key. Yes, the metal key used to start the car is known to wear out when the car reaches the 100,000-mile mark. If one notices the key wearing, it’s a good idea to get a fresh one made otherwise there’s a possibility of it suddenly not working and leaving you stranded.

Starter Failure

Some owners of the second-gen Toyota MR2 have reported that their cars have trouble starting. The most common reason for this problem is a bad starter motor. While some starters are known to last longer, there have been a few reports suggesting they can fail between the 100,000 and 125,000-mile mark. Fixing this involves replacing the entire starter assembly in most cases.

Bad Engine Mount 

Next on the list of common problems is the engine mount on the driver’s side. While the engine mounts themselves aren’t defective in any way, it is known to wear out on 1995 Toyota MR2 examples with higher miles. 

If this problem isn’t fixed on time it can put a load on the other engine mounts and cause them to wear out prematurely as well. That being said, it’s a good idea to replace all the engine mounts at the same time as they are consumable after all.

Power Steering Leak

There might be a day when you notice the power steering fluid leaking, even on a “younger” 1995 Toyota MR2. This problem has been observed by other owners and can happen via a leaking power steering pump or hose. This problem can only be fixed by replacing the parts.

Weak Ignition Coil 

The 1995 Toyota MR2 doesn’t feature a coil-on-plug ignition system and makes use of the distributor system instead. While this tech has been obsolete nowadays, it was common at the time. 

Reports suggest that the ignition coil in the distributor can fail which affects drivability and also end up causing the car to have trouble starting. While there are ways to fix the failing part of the distributor, it’s a good idea to replace the entire unit.

1995 Toyota MR2 – Pricing and Availability

The 1995 Toyota MR2 is becoming harder to come by and sellers are aware of that. Prices for second-gen MR2 in any condition have been rising. Clean, low mileage examples are selling for as high as $25,000. 

However, you can still find a decent enough specimen in the $15,000 range. While these prices might sound high for a 30-year-old Toyota. Keep in mind that this is a vehicle that can be converted to a full-blown race car with the right modifications.

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