Most and Least Expensive States to Own a Car
If you live in the U.S., you’re probably curious as to where it’s cheapest and most expensive to own a car.
According to recent analysis from Bankrate.com, living in the Midwest will save you money annually when it comes to owning a vehicle.
In order to determine the least and most expensive states, the company looked at the cost of gasoline along with repairs and insurance with labor and parts data provided by CarMD.com. Gas spending was calculated with statistics from GasBuddy.com and the Bureau of Transportation Statistics, while insurance costs were compiled from National Association of Insurance Commissioners statistics.
SEE ALSO: Top 10 Cheapest States for Car Insurance
By adding up the estimated annual cost of repairs, insurance and gasoline, the study found Wyoming to be the most expensive state to own a car, tallying a total average of $2,705 a year. Louisiana followed Wyoming at $2,555 while Florida will run you $2,516 annually. Rounding off the top ten were Mississippi ($2,487), New Jersey ($2,421), Georgia ($2,408), Delaware ($2,391), Alabama ($2,381), Michigan ($2,375) and Connecticut ($2,372).
On the opposite end of the spectrum, Iowa was the cheapest state to own a vehicle with an estimated annual cost of $1,942. Ohio was close behind at $1,973 while Illinois will run the average person $1,999. The rest of the top ten consisted of Idaho ($2,001), Wisconsin ($2,018), South Dakota ($2,022), Pennsylvania ($2,052), New Hampshire ($2,070), Nebraska ($2,081) and Oregon ($2,081).
[Image Credit: CheyenneCity.org]