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Mk2s might be slightly cheaper but for looks Mk1s every time, underneath they're surprisingly similar. Personally the main draw to the Mk2s would be the vvt engine. The YouTube channel 'Circuit : Driver' is a good source for track MX5 info, especially MK1/2 info.
My local track is Bedford and the car can hustle most people in the corners (with handling mods) but on the straights it gets comically out paced. I'd say if you have a long local track maybe consider other options, or forced induction. For smiles per £'s though...
Regarding track prep I'd change all fluids and take it from there, maybe some decent brake pads too?
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jambon
Turkish
Which MX-5 would be the best choice for track days, and what would it need done to it (if anything) before being put into use?
I imagine that there is a balance to be struck between cheap to buy and enormous amounts of rust and deferred maintenance being present?