A modern classic bargain
How one canny buyer picked up a super-rare performance Pug at a knockdown price
You had to know what it was to appreciate it.
It’s been clear for some time that Peugeot 205 GTI values have risen and held firm. Good original cars and properly-restored examples have been some of the stars of the modern classics phenomenon and the effect has been to push up prices of 309 GTIs and 306 GTIs and Rallyes, as well as the 106 Rallye. So you’re after a performance Peugeot, but don’t want to stump up the seriously strong sums a 205 GTI can command – how many people even know of the Mi16 these days?
It’s underrated outside Pug circles. The Mi16 was praised in period road tests but wasn’t a big seller here, so hasn’t picked up the same wider market following as its smaller hot hatch siblings. This pre-1992 example used an engine derived from the 205 T16 Group B rally car and had all-independent suspension, giving the 405 its famously superb ride and handling.
This one was in decent nick. Stored for some years it had been retrieved last year, after which it had been re-commissioned (work including a full brake overhaul) and it passed its MoT with no advisories in January. The history file included a stamped service book and some old test certificates. Body-wise this car was very straight and tidy. There was no sign of corrosion in the wings or doors or under the bonnet and the bodykit was in good order throughout. Panel fit was good while the external trim was very presentable. The interior was smart, too – Peugeot interiors aren’t known for their longevity but the seats, door cards and dashboard had stood the test of time extremely well. Seat facings showed little sign of use, too.
This was an outside-the-box modern classic buy.
Sometimes thinking outside of the box can offer the greatest rewards in classic ownership. Yes, the market rightly adores the smaller 205 GTI, but there are equally worthy alternatives. The Mi16 is rarer, is arguably more usable and likely to increase in value in the coming years. In all, it’s a modern classic sporting saloon for the clued-up and yes, the buyer did very well here picking this up for under £2k.