Here's How Much A 2021 Mazda Miata Has Depreciated In 5 Years

If you're after a fun-loving sports car for weekend drives, or even just something topless to brighten up that otherwise dull morning commute, then the Mazda Miata is the obvious answer. Sure, you could spend four or five times as much on a drop-top Porsche 911, or double for the soon-to-be withdrawn BMW Z4, but why spend more when Japan's tried-and-tested recipe is there for the taking?

It's up to us to keep the Miata alive, which means we need to keep buying it, but a new model costs $29,830, and that's including all mandatory dealer and destination fees, which many brands are increasing due to tariffs. So it's understandable that many prefer to turn to the used market. 

You could maximize your savings by buying a leggy 2016 example, but in the interest of enjoying that famed reliability, the sweet spot would more likely be a five-year-old example, rather than one that's seen a decade's worth of backroads. According to Kelley Blue Book (KBB), a 2021 Miata (the MSRP of which was roughly $2,000 cheaper than it is now) will have dropped just under $10,000 of its original value over the last five years, resulting in a current resale value in the region of $18,250. $10,000 in depreciation might seem like an awful lot, but let's add some context.

Spending $30,000 on a new model in 2026 will net you an entry-level Sport model, which comes equipped with all your daily driving essentials, like Apple CarPlay, a six-speaker sound system, and air conditioning. Not only will a 2021 example cost less, but you can pick up a higher trim-level for less money, which means your sports car experience could be a bunch better-equipped. 

While losing $10,000 might sound painful to buyers of new Miatas, it shows the open-top sports car has retained roughly 65% of its original value since hitting the tarmac, which is actually quite impressive. It's around 5% higher than what CarEdge reports is typical for a used Mazda. It's worth noting that these valuations are based on good-condition examples with fair mileage; if you carry out questionable mods and pile the miles on, don't be surprised to find out that your Miata is worth considerably less.

When searching on AutoTempest to see what retailers are actually advertising such cars for, we find that the cheapest 2021 Miata with between 40,000 and 60,000 miles is $19,995, although most are priced between $20,000 and $25,000. Dealer prices are naturally higher, as they have to offer warranties, cover prep costs, and perhaps even make a profit, but those numbers suggest the KBB figure is quite accurate for a private sale.