In the enthusiast community, used Mazda Miatas outnumber new ones by a gargantuan margin. There are several reasons why, but the most obvious is the fact that there are simply more of them—four generations worth produced over the course of three and a half decades. Since used cars are, broadly speaking, just as fast as new ones, it stands to reason that track- and autocross-oriented buyers tend to gravitate toward pre-owned vehicles.
Generally speaking, the broader enthusiast community follows suit, preferring to cherry-pick their ideal older model rather than roll the dice on showroom shenanigans and depreciation. But ignoring the new market entirely is akin to pretending your parents never experienced, ahem, relations. For whatever it’s worth, they probably did the deed someplace nicer than a Mazda dealership. But that is where new Miatas come from, and if there was ever a time to take the proverbial new-car hit, it’s now.
Let me lay it out for you, using a proper American unit of measurement: The Ford Mustang.
When it launched in 1990, the Miata was an alternative to a class of car that has since vanished. The British and Italian sports cars that it so deftly mimicked quickly retreated in the face of basic Japanese reliability. Sure, it rusted just as eagerly as its European competitors, but we wouldn’t notice that until years later. Its price at launch? $13,800—assuming you could find one at sticker. ADM is not a new thing, as it turns out. But do you know what else cost a little over $13,000 in 1990? A base Ford Mustang GT.
So, if you had $14,000 burning a hole in your pocket in 1990, you could choose between a 116-horsepower, four-cylinder Japanese roadster with virtually zero pedigree, or a 225-horsepower, V8-powered American pony car. Sure, the Mustang was about 50% heavier, but it also had 90% more horsepower.
Now, let’s fast-forward to the year 2000. Both cars are a generation newer and offer more power. The Miata now has 1.8 liters to work with and pushes 140 horses as a result. Sticker price? $20,995. The Mustang gained the 4.6-liter Modular V8 (the precursor to the Coyote) and also gained 35 horsepower. MSRP? $21,200.
If we leap ahead to 2010, a gap finally opens. Mazda’s third-generation “NC” Miata offers 160 horsepower, but it’s a bit pudgier than the NA and NB; the Mustang has gone full retro and the Mod motor has sprung dual overhead cams, giving it 300 hp from the factory. Miata MSRP? Just under $24,000. Mustang? $28,000 and change.
Mazda and Ford both launched a major redesign in 2015. Both cars benefited from overhauled platforms, redesigned engines (all hail the 5.0!), and both can be had with Recaro seats and upgraded brakes, but the price gulf between them has increased dramatically. MSRP for a base Miata in 2020 was about $27,500. The Mustang GT? $35,600. As you can imagine, the gap has widened even more since then. Today, the Miata is still under $30k before destination; the Mustang, more than $41,000—and it gets worse if you option both up with their respective performance add-ons.
Translation? Choosing a Miata used to be a lot more difficult. Many a shopper was forced to ask themselves if perhaps they were spending more money on less car—less power, less grip, less performance. Only those who could appreciate the way the Miata lit up those negative spaces would end up signing on the dotted line. Today, the decision is much easier. Sure, you can get more car—if you’re willing to pay a lot more for it.
The Miata is a screaming deal in 2025—not because of incentives, or because of looming tariffs, or for any other nonsensical “gotcha” reason. Mazda came by its current value proposition the honest way—by not hiking prices significantly in the face of inflationary pressure. Why? Like the old Nissan 370Z was before it was redesigned and re-priced, the Miata is old and its tooling long-since paid for. Take advantage while you still can.
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