Mazda MX-5 leasing is still one of the cheapest ways into a proper rear-wheel-drive sports car, and in 2026 the MX-5 is close to the only affordable one left. At First Vehicle Leasing we've arranged MX-5 leases for well over two decades. Here's what each version costs, how the specs differ, and how to tell a good deal from an average one.
Key Takeaways
- The 2026 MX-5 Roadster starts at a £28,605 list price, and the folding-hardtop RF starts at £30,605. The range tops out with the RF Homura at £38,065.
- The 1.5-litre petrol engine has 132PS, rising to 134PS for the 2027 model year. Mazda has stopped taking new UK orders for the 184PS 2.0-litre, so it's only available from remaining stock until around January 2027. Every MX-5 comes only with a six-speed manual gearbox.
- For company car drivers, the Benefit in Kind (BIK) rate for 2026/27 is 34% on the 1.5 and 36% on the 2.0.
- No version costs more than £40,000, so the expensive car supplement on road tax never applies.
- To compare lease deals fairly, they need the same initial rental, term and mileage.
How Much Does a Mazda MX-5 Cost in 2026?
The Mazda MX-5 Roadster starts at £28,605 for the 1.5-litre Prime-Line and goes up to £36,065 for the 2.0-litre Homura. The RF with its folding hardtop costs £2,000 more than the equivalent Roadster, so it runs from £30,605 to £38,065. Those are list prices. Lease rentals depend on the term, the mileage and the initial rental.
The price list has eight versions in total: four Roadsters and four RFs, spread across three trims. The 2.0-litre engine came only in Exclusive-Line or Homura trim, but Mazda stopped taking new UK orders for every 2.0-litre version in August 2026. Those versions are now limited to remaining stock, which is expected to last until around January 2027, so for new orders the choice is the 1.5 in Prime-Line or Exclusive-Line trim.
| Version | Roadster list price | RF list price | BIK 2026/27 |
|---|---|---|---|
| 1.5 132PS Prime-Line | £28,605 | £30,605 | 34% |
| 1.5 132PS Exclusive-Line | £30,605 | £32,605 | 34% |
| 2.0 184PS Exclusive-Line (remaining stock only) | £33,565 | £35,565 | 36% |
| 2.0 184PS Homura (remaining stock only) | £36,065 | £38,065 | 36% |
For comparison, this generation was launched in 2015 at under £19,000. Prices have gone up a lot since then, but the MX-5 still costs far less than any other open-top sports car with a petrol engine.
What Are the Mazda MX-5's Specs and Engines?
Every MX-5 is rear-wheel drive and comes with a six-speed manual gearbox. The 1.5-litre engine makes 132PS and gets from 0-62mph in 8.3 seconds. The 2.0-litre makes 184PS and does it in 6.5 seconds. The 2.0 has now been axed for new UK orders because of emissions rules, and the 2027 model year MX-5 is 1.5-litre only, with power raised to 134PS. The Roadster weighs a little over 1,000kg, and that low weight is a big part of why it's so much fun to drive.
| Spec | 1.5 Skyactiv-G | 2.0 Skyactiv-G |
|---|---|---|
| Power | 132PS | 184PS |
| 0-62mph | 8.3 sec | 6.5 sec |
| Top speed | 127mph | 136mph |
| Official economy (WLTP) | 45.6mpg | 41.5mpg |
| CO2 | 140g/km | 153g/km |
Mazda dropped the automatic gearbox in 2024, so every MX-5 is now manual only. Boot space is about 130 litres in the Roadster and 127 litres in the RF. That's fine for a weekend bag, but not much more.
Which MX-5 Trim Should You Lease?
Prime-Line
Comes only with the 1.5 engine. You get heated seats, LED headlights, an 8.8-inch screen with wireless Apple CarPlay and Android Auto, cruise control and 16-inch alloys. It's the purest MX-5 in the range, and many testers think it's the best one.
Exclusive-Line
Adds leather seats, a nine-speaker Bose stereo and keyless entry. With the 2.0 engine (now remaining stock only) you also get a limited-slip differential, Bilstein dampers and a strut brace.
Homura
Comes only with the 2.0 engine, so it's now limited to remaining stock. It adds 17-inch BBS wheels, Brembo brakes and Recaro seats trimmed in leather and Alcantara. Most of these extras are about looks, so it's for buyers who want the top spec.
Roadster or RF?
The Roadster has a manual fabric roof that you can raise or lower in seconds from the driver's seat. The RF has an electric folding hardtop that leaves the rear pillars in place, so it's quieter on the motorway. The RF is also usually in a lower insurance group. If you mainly drive for fun in summer, we'd go for the Roadster. If you commute every day all year round, the RF makes more sense.
Why Lease an MX-5 Rather Than Buy One?
With a lease, you pay the gap between what the car costs and what it's forecast to be worth at the end of the term, plus interest charges. The MX-5 holds its value well, and brokers buy cars in volume, so MX-5 rentals are often better value than you'd expect from the list price.
Here's why buying in volume helps. We commit to manufacturers in bulk, which lowers the starting cost of each car. The forecast end value (called the residual value) is based on what the car itself should be worth at the end, not on what we paid. A lower starting cost with the same end value means a smaller gap to fund.
There's another reason to lease right now. Mazda has confirmed that the next-generation MX-5 is in development. Reports suggest it will mainly use a new Skyactiv-Z petrol engine, with an electric version possible but not confirmed, and Mazda's wider electric car plans have reportedly slipped to 2029. The new car isn't expected before 2028 at the earliest. Nobody knows yet how that will affect the value of today's car. On a lease, that's the funder's risk, not yours.
Buying can still work out cheaper if you plan to keep an MX-5 for eight or ten years, and plenty of owners do.
Will I be approved?
Five questions, no sign-up, and an honest answer before you apply for anything.
Check my eligibilityHow Do You Spot a Good MX-5 Lease Deal?
A quick test: divide the car's list price by the monthly rental. The answer tells you how many rentals it would take to cover the price of the car, and higher is better. Above 90 is strong value, 80 to 90 is reasonable, and below 80 is poor. The test only works when you compare deals with the same initial rental, term and mileage.
This rule matters. It's only fair to compare a 9+35 deal (nine months' rental upfront, then 35 monthly rentals) with another 9+35. If you put a 9+35 up against a 1+35, the deal with the bigger initial rental will always look better, because some of the cost has just moved out of the monthly figure. You also need to keep VAT consistent: compare prices including VAT with rentals including VAT. For example, a £30,000 car on a £300 monthly rental scores 100. That's the same as the informal consumer "1% rule". These figures are only an example and aren't a real MX-5 quote.
So what should you actually do? Our leasing experts recommend this order:
- Choose your engine first. The 1.5 is cheaper to run and is the only engine you can still order new. The 2.0 gets the limited-slip differential and better suspension, but it's only available from remaining stock until around January 2027.
- Set your mileage honestly. Most MX-5s are second cars, so 5,000 to 8,000 miles a year often covers it.
- Choose an initial rental you're comfortable paying, then compare deals that use that same profile.
- Check special offers before you settle on one trim. Sometimes an Exclusive-Line we've bought in volume costs less to lease than a Prime-Line.
What Does an MX-5 Cost as a Company Car in 2026/27?
According to HMRC's published company car tax rates for 2026/27, the 1.5 MX-5 (140g/km) sits in the 34% Benefit in Kind band and the 2.0 (153g/km) sits in the 36% band. BIK is the tax you pay on the private use of a company car. It's a percentage of the car's list price, and that percentage rises with CO2 emissions.
Example: a 1.5 Prime-Line Roadster at £28,605 × 34% gives a taxable benefit of £9,725.70. That works out at about £1,945 a year for a basic-rate (20%) taxpayer or about £3,890 a year at 40%. On a Business Contract Hire (BCH) agreement, a VAT-registered business can usually reclaim 50% of the VAT on the rentals if the car is also used privately, under HMRC's VAT rules for leased cars.
On road tax, the DVLA's 2026/27 first-year rate is £560 for the 1.5 and £1,410 for the 2.0. After that it's the £200 standard rate. On a lease, road tax is normally included in your rentals for the whole term. If company car tax is your main worry, an electric roadster like the MG Cyberster is taxed at 4% BIK in 2026/27. It can also be taken through salary sacrifice.
Which MX-5 Alternatives Can You Lease?
Few true rivals are left at this price. The MG Cyberster is an electric two-seat roadster with scissor doors and much more power. If you want a coupé, the Alpine A110 is light and agile in the same way as the MX-5, though it costs a lot more. If your budget stretches further, the Porsche Boxster is the obvious next step up.
Is an MX-5 Lease Right for You?
An MX-5 lease suits you if you want a sports car you can use every day, without the running costs of a premium two-seater. It doesn't suit you if you need rear seats, a big boot or an automatic gearbox.
- Lease the 1.5 Prime-Line if keeping costs down matters most and you like revving an engine hard.
- Lease a 2.0 Exclusive-Line from remaining stock if you want the best handling setup and plenty of kit. Mazda has stopped taking new orders for the 2.0, and stock is expected to run out around January 2027, so don't leave it late.
- Choose the RF if it'll be your only car and you drive on motorways all year.
- Look elsewhere if you need an automatic, or you're a company car driver trying to keep BIK low.
Related guides
How to Compare Lease Deals and Spot a Good OneDo I Need Special Insurance for a Leased Car?Speeding & Parking Tickets in a Lease Car: Who Pays?If Your Leased Car Is Written Off or Stolen: What HappensView all guidesFrequently Asked Questions
Ready to Lease Your Mazda MX-5?
First Vehicle Leasing is authorised and regulated by the FCA, is a BVRLA member and has over 25 years of experience. Call our team on 0333 003 3325 or see the latest MX-5 rentals online.
View DealsSources
- Mazda MX-5 Review and Prices 2026 - Carwow
- Mazda MX-5 2.0 dead in the UK: farewell old friend - Auto Express
- Mazda MX-5 1.5-litre updated with more power, plus 2.0-litre engine dropped - What Car?
- Electric Mazda MX-5 - Auto Express
- Work out the appropriate percentage for company car benefits (480: Appendix 2) - HMRC, GOV.UK
- Vehicle tax rate tables - DVLA, GOV.UK
Written by Andy Bell, First Vehicle Leasing.
