I have an 02 MX-5 that I paid the best part of 5k for a little shy of a year ago and I love it. One tip I would say is dont be concerned about the age too much. They still seem to be priced completley on condition and I would always take an older, better looked after, lower mileage example over a newer plate.
Try and get a 52 plate onwards though if possible, that way you guarentee it will be a Mk2.5 and it should have a Mohair roof (my 02 is still vinyl and I have never seen a post 52 plated one with a vinyl roof) which looks a little nice in my personal opinion.
There seems to be an awful lot of people who say the 1.8 is no quicker than the 1.6 and will go on to tell you how the 1.6 has 115bhp and the 1.8 has 130bhp but is heavier so theres nothing in it. In truth this isn't a fair comparison as it's people picking the quickest variant of the 1.6 and the slowest of the 1.8. Most of the 1.6's tend to be 110bhp where as the 1.8s from 2000 onwards are just over 140bhp. Although I would agree 15bhp isnt a big difference, the 30 illustrated there is in this kind of power range. (Make sure you avoid the later 90bhp version of the 1.6 as thats the worst of the lot).
At this money my personal choice of model would be a 1.8 S-VT (though I may be biased) 5k would get you a cracking example not unlike this.
http://www.autotrader.co.uk/classified/advert/201216465267937
This version comes with the heated leather seats, 6 speed gearbox, limited slip diff, and uprated shocks (bilsteins I believe) over most of the standard models, and all in it makes for an awesome experience.
Mine hasn't missed a beat in the 10 months or so I've had it, not a drop of oil has been used and it hasn't cost me a penny other than petrol at the moment (though it is getting ready for a service). The only thing I would say to look out for in paticular is rust, especially around the arches and sills. Although you would think it wouldnt be too much of a problem on cars of this age it seems that the mk2s are actually worst for rust than the origional mk1s. Mine has developed a little bit on one of the rear arches. It's not overly unsightly, but definately something to look out for.
I kept mine outside for about the first 3 or 4 months I had it and had no issues at all, I have now moved it into a garage where it lives overnight though. I certainly wouldnt have any major concerns if I did have to leave it outside, it's coped in every heavy downpour it's been in without issue, and if you get one with a mohair roof it should be even better than my vinyl one.
Hope this helps a bit.
