if the arches are that rusty then il guarantee there is much worse lurking beneath body trim and where the eyes cant see
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ive owned 3 MR2's.
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one was tatty on the outside but not bad.
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it had bubbling on arches, but nothing too major.
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but when stripped apart and tapped with a hammer in the right places there was rot in the sills, floor, front ARB mount area, back of rear arches, front of rear arches, and thats just the stuff i found, there would have been much more
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my spares car has rust in most of the same places, again, you wouldnt have known about most of it without taking significant amounts of stuff off of the car
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and finally, my current car which i am in the process of fixing, was mint.
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it had a full
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"restoration" about 18 months before i bought it.
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some new panels, lots of welding, a full strip down and rebuild and an awesome respray.
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i bought it from a friend
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(so know the history of the restoration and what exactly was done), started tearing it down, found out that the company that did it were cowboys and bodged most of it together with filler and didnt treat the rust underneath properly.
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and i found rust in all the usual places.
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however on this car i have stripped it to a bare shell, something i hadnt done on the others
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(and something that very few people do), and there is rust in places that i never even knew were culprits for it!! front chassis legs, rear chassis legs, drain channels below front windscreen, area in front of the doors
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(links to drain channels), etc.
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the rust is everywhere! and this isnt a bad car.
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it had some shoddy repairs, but the rust isnt bad at all relative to most other examples of the same age, it just isnt as mint as i beleived it would be.
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on cars that are visibly rotten in small photographs, there is going to be horrendous amounts of rot in the places you cant see.
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and you probably wont ever find out about it until its too late to ever fix it, and by then youve ploughed
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£1000 into the car! whilst i know this wont go down too well, mk1 MR2's arent really a classic car, they arent worth enough money to restore them.
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if the shell isnt in good condition to begin with
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(and you can pick them up for less than a grand with only minor rust) then you might as well just scrap it.
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there are plenty of good ones around to not bother with the bad ones.
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and IMO the car isnt classic enough, and never will be, to warrant the expense of fixing up the bad ones just to keep them on the road.
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just buy another one!