The 16v is more powerful and is the mk3 of choice, get over to the mk3 section of the forum and get some pictures up and don't listen to the haters, the
8v is a perfectly capable GTi and no more prone to rust than many other cars of this age.
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Not very capable when a bog standard 1.6 corolla is faster...
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But i don't want a bog standard 1.6 corolla and i don't want to go really really fast because thats how you lose your licence...i assume you have one of those.