The Cost of Miata Ownership: Affordable Fun or Hidden Expenses?
The Mazda MX-5 Miata has become a legend among driving enthusiasts thanks to its blend of low cost, lightweight design, and high-revving fun. But while the sticker price may be affordable, what about the total cost of owning one?
1. Purchase Price
The 2025 Miata starts around $29,530, while used ND models from 2016–2022 can be had from $15,000–$26,000. Compared to rivals like the Toyota GR86 or Porsche Boxster, it remains one of the most affordable new sports cars.
2. Maintenance Costs
With annual upkeep ranging from $500–$700, the Miata is fairly cheap to maintain. Parts are common and labor is simple thanks to its minimalistic engineering. Tires and brakes, however, can push costs up if you drive hard.
Click here to continue reading3. Insurance Premiums
Being a sporty convertible bumps insurance costs up. Expect to pay $1,200–$1,800 annually based on your driving record and location.
4. Fuel Efficiency
Surprisingly efficient for a sports car, the Miata delivers up to 34 MPG highway. Most owners report yearly fuel costs around $1,000–$1,600.
5. Depreciation and Resale
The Miata holds its value well. A 5-year old ND typically retains around 60–65% of its value, and older NA/NB models may even appreciate if well kept.
6. Total Ownership Costs (5 Years)
Expect total costs between $40,000–$45,000 over 5 years for a new Miata. That's roughly $8,000–$9,000 per year, which includes everything from insurance and fuel to maintenance and depreciation.
7. Hidden Costs to Consider
- 🏠 Convertible top wear over time
- 🛞 Tires wear quickly with spirited driving
- 🧳 Cargo and cabin space are limited
Conclusion: Still a Steal?
Yes—if you’re in it for the drive, few cars match the Miata’s value. It’s affordable to buy, fun to own, and holds its value better than most. Just be sure to account for insurance and practicality limits.