If you want a car that you feel connected to the road in a way that just about all modern cars can't do get an MX5. The stock suspension is a bit soft on them, but you can feel every imperfection in the road, the steering is so direct, and they have a really complex idependant suspension setup.
I had a MK3 2.0, looked at a lot of sh1t ones before getting it. You actually feel speed in these cars, which in my IMVHO makes them way more fun than modern cars that you simply don't. even if they are way more poweful. They're just fun cars that were never meant to be really fast, just a great driving experience, more so on a good B road. The Mk2 (like the one in this thread) was the worst for rust so I believe.
If it was a good rot free one, it looks like I'm in the minority here, but I think it's a total steal for that price. What does 3k get you these days, more so covid prices. Sure it's expensive to tax, but what modern car for that kind of cash could you ever buy that would be as much fun as an MX5? There's other convertibles around, but I would imagine none are as raw as an MX5, unless it's a Lotus of some description or an S2000, these are mega £££
In my opinion the car is too cheap if it was a genuine, low mileage, good, rot free example. I'm in the minority here though, I don't class an MX5 like an old Astra or a Toyota Avensis, it's a special car, that offers cheap thrills. It's like buying an old MG MGB or something. But it's reliable and not as slow, and just better in everyway. You have to get it though, and I understand that these cars are not for everyone. There's also a lot of them about, most of them will be rotten. I get that they're a totally impractical car for most people, but I would imagine that the OP is not bothered about that, otherwise they wouldn't be mentioning a 2 seater in the first place.
I got one because I liked how it drove, I couldn't care less if it was a convertible. At the time (2016) I couldn't think of anything else for 5K that would offer as much fun for so little money. But I also found I really liked having the hood down, I used to like it best at night on country B roads, not even driving fast, just a great experience, like freedom. I got the usual comments, hairdressers car, midlife crisis etc etc. You've got to own one to get it, or not get it. It's not a badge snobs car, just good value and good fun.
The MK4 184 soft top looks totally gorgeous by the way, out of my budget for a good while yet.
Just don't get a Micra Accy (unless it's a K11), honestly even if you can't get into the thing, the MX5 is a special little car, for very little cash, drive the thing you'll see what I mean, it's just fun without all the useless gadgets that you get in a newer car...