You Can Buy A Modern Italian Sports Car That Won’t Bankrupt You For The Price Of A Mitsubishi Mirage

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If I were to say “Italian sports car,” your imagination might spark to life with daydreams of dashing along the riviera, wind in the hair, not a care in the world. Mind you, these cars also conjure up images of five-figure repair bills, which is why modern Italian mechanical stallions are pretty much just for the wealthy few, even second-hand. However, there’s one exception — The Fiat 124 Spider.

This small, two-seat convertible sold from model years 2017 through 2020 looks all-Italian at first glance, comes with a rorty, beloved turbocharged four-cylinder engine, but comes from mixed origins that help stack the deck on reliability.

Best of all, they’re reasonably priced on the second-hand market, to the point where you can pick one up in sporty Abarth trim for less than a new example of America’s cheapest hatchback. Talk about an intriguing proposition, am I right?

What Are We Looking At?

Fiat 124 Spider Abarth

Here’s a fun open secret: The Fiat 124 Spider is technically the NE Miata. No, really, it was built by Mazda in Japan, carries the chassis code NE, and is largely an ND Mazda MX-5 with an NC MX-5 transmission and a Fiat engine. It does come wrapped in more traditional sheetmetal than the Mazda, with hood bumps to evoke the Lampredi twin-cam engine of the ’60s and a longer trunk lid than you’d get in an MX-5, but those largely Japanese bones are reassuring.

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Under the hood sits the 1.4-liter turbocharged four-cylinder engine from the Fiat 500 Abarth, backed up by the six-speed manual gearbox from the old NC MX-5. Total output? A decent 160 horsepower, rising to 164 in the 2020 Abarth trim, and a robust 184 lb.-ft. of torque. As with many modern small-displacement turbocharged engines, tuning can extract more juice from the Italian heart of this roadster, but be careful, as greater output often comes at the expense of longevity.

However, perhaps the Fiat MultiAir engine isn’t the best part about this car. In a 2016 road test, Car And Driver noted a mismatch between engine behavior and the character the car’s trying to evoke, and I largely agree. As per the mag:

The most frustrating thing about the Fiat MultiAir engine is how unforgiving it can be when hustled. Screw up a shift or bog down in the wrong gear, and the engine loses its turbo edge and goes limp. Our top-gear 30-to-50-mph test found the engine in a hole–it took many long seconds more than the Miata did to complete that task, after which it was fully on-boost and handily outran the Mazda from 50 to 70 mph. In reality, both cars would need a downshift to zip around even the slowest traffic, but this nobody-home sensation is an aggravation that the Miata engine better resists.

However, there is no denying that especially in Abarth trim, there’s something visually fetching about the 124 Spider. It’s also nice that it uses a more robust gearbox than the early ND MX-5s, and has an extra third of a cubic-foot of luggage space. That last figure might not sound like much, but 4.9 cu.-ft. vs 4.6 cu.-ft. is a real difference.

How Expensive Are We Talking?

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The dirt-cheap economy car that is the 2024 Mitsubishi Mirage starts at $17,790 including freight, but don’t expect to pay quite that much money for this Japanese-Italian drop-top. Take this 2017 124 Spider Abarth that recently hammered on Cars & Bids for $16,250. All dark and moody in black with red accents, it has just 61,600 miles on the clock and a clean Carfax, meaning it’s basically ready to have some fun with without much in the way of worry.

Fiat 124 Spider Abarth

Likewise, this adorable little grey beast sold on Cars & Bids for $16,250 back in February, and while it did have 71,000 miles on the clock, it also came with some goodies to enhance the soundtrack. A fancy Ragazzon exhaust system should make this example sound a bit more like a Fiat 500 Abarth, while an intake from Fiat speed shop Madness should liberate some turbo noises. If that’s what you’re into, then hey, solid deal.

2017 Fiat 124 Spider Abarth 1g2 Scaled Copy

Want to go even cheaper? This 2017 124 Spider Abarth sold on Bring A Trailer in January for $14,000. When the hammer dropped, this white cabriolet had just 53,000 miles on the clock and a clean Carfax. Sure, it might be a few years old, but it’s a well-priced modern sports car that doesn’t bring up any immediate red flags.

What Could Possibly Go Wrong With A Fiat 124 Spider?

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Weirdly for a European car, the Fiat 124 Spider has proven to be fairly reliable, although there are a few minor maintenance things to keep in mind. Firstly, the water pump seals on early examples can leak, and if you’re in there, you might as well do the water pump and timing belt since a 2017 model would be seven years old or so.

Secondly, coil-on-plug units can fail prematurely, but those are an easy DIY. Oh, and a weak diverter valve may result in lumpy power delivery, but a nice aftermarket GFB one costs less than $150 and is a driveway DIY. Otherwise, the mechanicals seem relatively alright, with no widespread reports of catastrophic failure or anything like that.

Should I Buy A Fiat 124 Spider?

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Let’s get the obvious question out the way first: Why not just buy an MX-5? Not only is it slightly quicker than the 124 Spider, it features a linear powerband, is more reliable, and its production volume means there are more spares available on the second-hand market. Slap on a set of Xidas and your favorite tires, and get ready to experience the simplest modern open-topped sports car on the market.

However, if you’re already in love with this thing, it probably won’t steer you too wrong, and its pricing is quite competitive. This is a modern Italian sports car for the rest of us, and for some of us, that’s a big win.

(Photo credits: Cars & Bids)

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58 thoughts on “You Can Buy A Modern Italian Sports Car That Won’t Bankrupt You For The Price Of A Mitsubishi Mirage

  1. “Let’s get the obvious question out the way first: Why not just buy an MX-5?”

    Looks sell this car. Plus that challenging power delivery just adds character like the murderous handling in older 911s

    1. I once had a Ford Mondeo hire car, with a chonky turbo diesel and six-speed gearbox, which combined to only make boost in very specific rev range. Mistime a shift and you’d basically have the power of a non-turbo diesel, but get it right and there was all the boost.
      Personally I really enjoyed driving it, there was satisfaction in getting just the right gear and keeping that turbo spinning.

  2. The beauty of a turbo motor in a Miata:

    Kit 300 ( 320 * )
    – Camshaft stage1

    – Turbo td04L/19t , billet custom wheel by mtd

    – Tubular exhaust manifold

    – Custom aluminium intake

    – Blow off valve aluminum adapter

    – Custom intercooler with sil. hoses

    – Injectors 390cc

    – Software stage3

    * with water/meth inj kit

    https://www.multiair-tuning-dev.com/

  3. “””Italian.””” It’s a worse ND Miata with some retro styling.

    Buy a real 124 Spider instead. The old one. Those are fantastic and probably still a lot less expensive.

    1. The old ones are so light and hoonable, even though they are not quick to accelerate in stock form.

      I like the 850 Spyder even more because it’s so damned LIGHT. It was able to keep up with normal cars of its time period with only 48 brake-horsepower. It could reach 94 mph and 0-60 mph in about 18 seconds. That is very usable. That car was delightfully light, even if its aero drag sucked. Around 1,580 lbs.

      I read of an 850 Spyder EV conversion built during the malaise era that could do 0-55 mph in 8 seconds with series-wound DC motors. It had no PWM controller, but used contactors. It didn’t make more power than the ICE to do it, but it was a torque monster. I did not find any info pertaining to its weight, unfortunately. I recall 55 mph being its top speed and it was a 72V conversion, range was 20-30 miles.

      With modern technology, one could reliably get 160 peak horsepower out of an 849cc engine(using the Corolla GR’s horsepower/L as a benchmark). Consider the possibilities…

  4. If there is an engine swap solution for the ND/NE like the 2.5L Duratec on the NC then the risk of the Fiat turbo engine might be more palatable. Everything on the 124 comes from Hiroshima except that blasted engine.

    1. Pick your poison I guess. The ND Miatas blow up 3rd gear if you track it. The 124 OTOH uses the gearbox from the older NC which is more robust, but it comes with the Fiat engine…

  5. Actually they don’t seem all that cheap to me now, towards the end of production they were really having trouble selling these and I remember seeing them new on regional autotrader searches for around $20,000 give or take. Seriously thought about trying to snatch one up but really didn’t need a car at the time.

  6. Bishop, Bishop, Bishop!!! Please please do an Alfa Romeo version of the ND/Fiata. The 124 is rather underrated but the original plan when FCA/Mazda announced the collaboration was for the FCA version to be a revival of the Alfa Spider. I can’t say for sure but I’ve always suspected that would have sold a little better. But the Alfa CEO at the time killed it because “no Alfa could be built outside Italy”, which is rather interesting given the recent curfufle with new Alfa Milano/Junior name. Real life though pleeeeeaaaseee do an Alfa version Bishop!!!

  7. I always thought this was the best of both worlds — Mazda engineering and Fiat style, with torque.

    One maintenance note about that engine is that it uses Iridium spark plugs, which in this application are known to have a fairly short life and are more costly than average plugs. (But it’s a manageable expense if you are DIYing the replacement.)

    1. Indeed they do. Most of the Fiat owners recommend that they be replaced about every 25,000 miles. But it’s a super simple job to do yourself and takes about 15 minutes.

  8. I have a friend that bought one new, it’s an awesome car. The only negative is the passenger footwell is quite short so it feels cramped in length. Like my Austin Healey Sprite has 4 more inches of leg room than one of these.

    1. The passenger side footwell has a subwoofer (premium sound system) or a subwoofer sized piece of styrofoam (non-premium), which is probably why it seems cramped.

  9. I have a neighbor with a Fiata and I stop and admire it often. These are pretty striking cars and I don’t think pictures do them justice. They look downright exotic, but with the added benefit that there’s really nothing to be scared of. They’re just your friendly neighborhood Miata underneath other than the engine.

    Would I rather have the NA Mazda 4 popper? Probably, part of the joy of Miatas is that you can ring them out all day without breaking the law. But I’d also imagine that the turbo might make these a little easier to daily and manage in traffic. In practice I’m not sure if there’s a huge difference.

    These are also shockingly cheap, and in a few years they may dip into “fuck it” money. They’re usually a bit cheaper than a comparable ND as well, probably because the Fiat badge scares folks away. As far as a fun roadsters/momentum cars go you could do a whole hell of a lot worse. Really the only thing I don’t love about them is that a TON are auto-tragic.

    I’d guesstimate about 2/3rds based on the listings I’ve browsed. Even though I’m one of our resident dual clutch/modern auto apologists a car like this needs to be stick. The end. If you want an auto just get a grand tourer instead. A light weight, two seat, RWD convertible is no place for a slusher,

      1. That turbo 1.4 sounds pretty damn good for what it is too. I’ve always liked the sound of the 500 Abarth. Add a decent exhaust and I’m sure these will sound similarly rowdy. I want to say the Abarths have an upgraded exhaust stock?

  10. I took a regular Fiata out for a couple days worth of test driving a few months ago and when I started to feel the itch to go back to proper Fiat ownership. While it was a very enjoyable and charming little thing and did *barely* pass the weekly grocery shopping test, I ended up taking a pass. It just had too much Mazda in it. Everything I touched in the cabin didn’t feel Fiat enough. For some, this would be a good thing, but after praying to St. Gianni Agnelli of Turin, I knew it wasn’t right for me. Always listen to St.Gianni.

    1. Sadly, Fiat is owned by Stellantis, a company that doesn’t believe in saints, souls, or beauty. Just be happy it had too much Mazda in it and not too much Chrysler.

  11. I picked up a 2018 124 Lusso trim with less than 25k miles a year ago for like $23k to use as my daily driver. And quite frankly it’s been an amazing little car. The engine has been easy to service and hasn’t given any issues. It’s comfortable on long drives on the interstate and brilliant when the road gets twisty. The trunk does offer a usable amount of space for running most errands. It looks sharp with it’s silver window and rollbar hoops and tan interior. It even does surprisingly well in the snow. I’ve put 16k miles on it in the last 12 months. I absolutely love it.
    https://d3hrnetf5izp16.cloudfront.net/original/4X/c/b/e/cbeb804e103819b50cad3392997f4d41a027873c.jpeg

  12. I like the Fiat looks better, test drove one it was amazing fun, however despite letting me test drive the manual they only had an automatic for sale. It was white, it was sticker price plus so no Fiata for Mr Sarcastic. But the used prices I’ve seen are still dear. Maybe some day after I finish its grandfather 1978 124 Spider inches garage or just sell it.

  13. They should’ve just kept it a Mazda. Use a Mazda engine, and maybe the Abarth could be that with a turbo, the Mazdaspeed Miata that Mazda themselves didn’t want to make 😛

  14. This vehicle offers an absurd amount of value for the money in the used car landscape, IMO.

    It is regrettable that Ugo Zagato isn’t around to give us his interpretation of this car.

  15. Wait until the prices come down further. Even if you may need to get a thrashed/trashed one. Then find a crashed Miata and swap it the motor from that.

    I don’t think anybody has considered transplanting a Mazda engine into something since the taco days. LOL

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