I unfortunely sold my beautiful and quick FM2 MK1 Eunos roadster last year as it was costing to much to run and got my bike licence and a sportbike instead. I don’t regret it as the bike is faster than I could have dreamed and nothing could match it for the cost.
However when i got the bike I had to buy a cheap run around (Pug 106 1.1) which is complete rubbish. The steering is vague, the brakes are weak and spongy and it handles like a shopping trolley with a wheel missing. More and more I miss driving the 5 especially as the bike is in the garage at the momemt because of all the ice. There was nothing like driving the 5 round the twistys.
If I sold the 106 i’d need an extra 800 quid to get decent 5. I can afford it but i am finding it hard to justify borrowing any more money at the moment as lending rates are so high and I do not want to get in any more debt than I have to.
As an alternative option has come to me that i am seriously considering but i am struggling to make up my mind what is the best thing to do.
A colleague of mine has had a standard red 1991 UK MX5 in his garage for 4 years which hasn’t moved. In this time it’s condition has deteriorated something chronic and it is in need of a lot of work to restore it to it’s former glory. I feel a project coming on…
As far as I can tell the steering, engine, gearbox, exhaust, wheels, tyres and suspension is all in good condition.
The following things need replacing or work:
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New roof including the rails that hold the rear of the roof to the body as they have corroded.
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Roof frame at front of window seals needs rust treating and repainting
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Interior needs a few bits, namely ash tray, seat rail end covers, new stereo, new gear lever gaitor
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Seats and carpets need deep clean.
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Boot lid spring needs to be removed lubricated and re attached.
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Main crank pulley needs replacing as it has corroded badly, therefore new ancilliary belt will be needed as well.
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Engine needs general service (plugs, oil, coolant, air filter etc.)
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Brakes need inspecting and pads/discs repaced if needed.
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Tax + MOT (Last 4 MOT’s show mileage has not changed in 4 years and there were no issues at the last (Nov 07). I doubt anything will have changed much since then as it has only been expose to british humidity in a garage)
All in all I can do all of this except the roof. Therefore cost is estimated at £500
The main thing that i am concerned about though is the body work.
The car has 3 dings, 2 of which had been down to metal and have been touched up badly. There are no visible stratches expect for in the door jams where sill plates would be. There bubbling on the rear wheel arch lip. The paint is badly faded oxidised. It basically looks dull matt red. He also stored what looks like a paddling pool on the bonnet which has left a big oxidised water mark. There is no obvious corrosion on the sills or arches, however you never know what is lurking underneath body sealer and arch liners.
With a bit of time and effort I think i could polish the paint back up to a nice red shine and do basic rust treatment on the dings and arch lips at almost no cost.
He said he’d sell it to me for about £750, so including the repairs above I only need to spend £1250 to get an MX5 again! I can afford without any borrowing once I sell the 106.
However to get it to a standard that I am happy with the paint would need stripping, arches and sill checked for corrosion in detail, any treatment/welding carried out and a full respray. That will of course cost a fortune as it is the only thing I can’t do myself. This all of course doesn’t need to be done straight away therefore I could save up for it.
So the big question is, is it worth it or shall i bite the bullet and fork out more to start with??? I can’t decide. Projects are fun, but can be risky.
Sorry for the essay. Looking forward to your comments
Si_G
