If you want a no-frills “hot” (oh, all right lukewarm) hatch that is fun to drive then take a closer look at the MG ZR. Since the demise of MG Rover earlier this year second-hand values across the MG range have been in freefall amid gloom about parts availability and dealer back-up.

The news last week that MG Rover has been bought by Nanjing Automobile, China’s oldest car manufacturer, could signal a mild recovery in second-hand values. So my advice is, if you fancy a second-hand MG ZR, get one soon.

Launched in Britain in June 2001, the ZR was designed to be a sporting sibling to the more conservative Rover 25. MG was keen to promote the car as offering affordable power, and with 101bhp even in the most basic 1.4 litre form it can put a grin on your face.

MG also launched a racier 1.8 litre 115bhp version, confusingly called the MG ZR 120, and a top of the range 1.8 litre ZR 160 with 158bhp. The latter has a 0-60mph time of 7.4sec, and with prices now dipping as low as £3,500 for a 2001 Y-registration model with 60,000 miles on the clock it’s also a real bargain.

There were also two diesel versions. A 99bhp 2 litre diesel was introduced in June 2001 and a 2 litre 111bhp unit appeared in December 2002. Although on paper these cars are apparently lacking in power, on the road they really fly. In fourth gear the 111bhp model takes full advantage of its mid-range torque and will out-accelerate the 158bhp MG ZR 160.

In terms of all-round spec, the MG ZR isn’t at all bad. It has sportier suspension and wider tyres than the Rover 25. The steering is well weighted and precise and the well-shaped sports seats hold front passengers firmly. The brakes, despite the absence of rear disc brakes on all but the top-spec ZR 160, are effective enough, although for some buyers the lack of antilock braking will be a disadvantage.

In terms of size, the MG ZR sits between a supermini and a family hatchback. Rear legroom can be cramped and the 304-litre boot can be a pinch if you are thinking of much more than a couple of weekend cases. MG offered the ZR with a choice of three or five doors on all models in the range.

Horror stories about reliability on past Rover models did little to help MG ZR sales initially, but with the passing of time it has proven to be a reliable performer. Panel fit and finish are to genuinely high standards, although some of the interior switchgear now looks a little dated.

The ZR’s technology, or lack of it, is a mixed blessing. You won’t find traction control systems, advanced climate control or a plethora of airbags in the cabin, but neither will you be faced with bills for repairing any of these things.

To sum up, a used MG ZR offers a blend of good engines, sweet gearboxes and competent chassis. It’s the last of the of old MG Rover lineage, and who knows, the day may come when we say wistfully, “They don’t make ’em like that any more.”

Electrics Check operation of windows, mirrors and sunroof (where fitted)

Air-conditioning Standard on ZR 160 only but an option on other models

Engine K-series engine is prone to head gasket failure, check coolant level and signs of "mayonnaise" around the oil filter cap, which cna signal problems

Gearbox Optional steptronic auto gearbox works well but operation is "back to front" from what is instinctive

Diesel The 99bhp 2 litre turbodiesel feels quicker than you may expect and looks identical to the petrol-engine models

Insurance High performance ZR 160 is group 16 insurance; the less powerful ZR 120 comes in at just group 10

Sport styling Lowered stiffened suspension, sports seats and mesh grille distinguish the MG ZR from its Rover 25 sibling

Safety Three-star score in Euro NXAP crash tests is only average

Alloys Standard on all models

Front bushes Lower steering arm bushes prone to wear, check for uneven tyre wear

Brakes Old-fashioned with drum brakes on the rear and ABS an option on 1.4 petrol and 2 litre diesel cars

VITAL STATISTICS

Model MG ZR 160 three-door
Engine 1796cc 4-cylinder
Power 158bhp
Transmission Five-speed manual
Fuel 37.6mpg (combined cycle)
Acceleration 0-60mph: 7.4sec
Top Speed 131mph

THE ONE TO BUY

MG ZR 160 three-door 2002 02 registration with 30,000 miles. Pay £6,295 at a main dealer or £5,000 privately

OR FOR SIMILAR MONEY

1998 R-reg VW Golf GTI
2000 W-reg Seat Leon 1.8 20v T Sport
2001 X-reg Peugeot 206 2.0 GTi
2001 X-reg Vauxhall Astra 2.2 SRi
2001 Y-reg Alfa Romeo 147 2.0 TS Lusso

Values: MG ZR 160 three-door



Five-door models worth £150 more than equivalent three-door. Source: estimates based on confidential CAP black book prices. ‘Trade’ is what a dealer would pay to buy your car; ‘Retail’ is what you would pay a dealer. There are plenty of second-hand cars advertised at £750-£1,250 less than the guide values suggest because of the collapse of MG Rover earlier this year