Auto body repair & detailing: lacquer damage, factory paint, expierience

Question
Hi William first time on this forum I live in Scotland and have recently purchased a 1991 toyota mr2 it is red in colour and the paintwork is badly oxidised I think most areas will respond to some high speed polishing there are a couple of areas where either the lacquer or the top layer of paint has peeled do you think it is more likely to be lacquer  .Do you think a repair could be done to the panel/panels or would a full respray be the way to go.I have no expierience in body finishing any advice would be greatly appreciated.

Answer
It's probably not Laquer, it's more likely to be enamel if it still has the factory paint on it. I would say the only repair here is a complete re-spray, the car will just oxidize again in a short period of time. The paint is going through a chemical change, and it's irreversible. Bill