I have owned a 1992 MK1 for 4 years now.
Rust aside, everything else lasts. They are easy to fix, cheap to fix and very reliable.
As rust is 99% of the reason for scrapping, all other parts are totally worthless. An engine is £150, a gearbox for £20 goodness sake, because they just never die.
Heck, a brand new roof fitted along with four midrange tyres fully fitted can be done for £500.
It really is the perfect blend of looks/hassle/cost/fun.
You can find a non rusty mx5 for under a grand still. They really are outstanding cars.
Yes other cars are sportier looking, faster and overall 'better' but as previously mentioned, the £:fun ratio goes to the MX5 every single time and it has done for years.
Youtube and forums cover absolutely any modification or repair you will ever need to do.
My MX5 was £900 with zero rust.
This time of year is perfect for buying them.
Buy one and slap four new tyres plus a full laser allignment and thank me later

. I often use mine for the 80 mile round trip for work!
EDIT: Everything you need to know about the MX5.
https://forums.overclockers.co.uk/showpost.php?p=25477468&postcount=3