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The stock MR2 has a single internal wastegate.
Internals are cheaper and easier as they are built into the turbo.
Externals can be much larger, which will allow you to flow more exhaust in order to control boost on a bigger turbo.
Just because it is external, does not mean it is vented to atmosphere. Most externals get routed back into the exhaust farther down the line.
Most people with a vented external, like mine, vent it straight to the ground.
You would not want straight exhaust going into the engine bay.
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