The 10 Most Expensive States To Own A Car In
People move around quite a lot, whether it be for work, because they are looking for something new, or in order to have better living conditions. Yet as we have seen in our list of the 10 most expensive cities for expats, the cost of living must always be taken into account.
Owning a car in the U.S. for example, entails different costs depending on the state one chooses to live in. In fact, the variation along state lines in gasoline prices, insurance rates, and average repair costs, can account for up to $800 in additional annual costs. By these prices, along with interest rates, Bankrate.com put forward a study detailing what owning a car actually costs throughout the U.S.
The biggest difference amongst states is gasoline prices, which can make up for annual expenses ranging from just over $600 to almost $1,600. Average repair costs on the other hand seem quite constant on a nationwide scale, ranging from $270 to $393 per year.
Some might wonder where car owners will have to come up with the most amount of money, in order to enjoy their vehicles. If money is no issue you might want to check out our post on the Most Expensive Cars Ever. Well, let’s take a look at the 10 most expensive states to own a car in.
With annual costs of $2,372 Connecticut starts off the top 10, mainly due to its elevated insurance rates, which amount to $1,058 per year. Also, car owners will have to come up with $385 for repairs, making it one of the most expensive in this regard.
Owning a car in Michigan will cost you just $3 more than in Connecticut. Repair costs are only $317, yet gasoline is more expensive at $994 a year, while insurance rates are similar to those of Connecticut.
Despite having low annual insurance costs of $793, car owners in Alabama will have to come up with $2,381 a year in order to maintain their vehicle. The large difference stems from gasoline prices, which make up for $1,237 of the bill.
Annual costs for car ownership in Delaware amount to $2,391, thanks to elevated insurance costs. Gasoline prices and average repair costs on the other hand are actually quite in tune with national standards.
Breaking the $2,400 a year mark is Georgia. Repairs will cost you an average of $385 and gasoline will run car owners almost $1,100 a year.
5. New Jersey
With the highest average repair costs in the country, car ownership in New Jersey will cost you $2,421 a year. Insurance rates are also amongst the highest across all 50 states, amounting to an annual cost of $1,244 .
Mississippi is next on our list, boasting annual costs of $2,487. Gasoline consumption is responsible for around half of the bill and is the most expensive so far in our list at $1,231 a year.
Owning a car in the sunshine state will cost you $2,516 a year. Florida is part of the top 3 thanks to insurance rates above the $1,100 mark, high gasoline prices, and average repairs costs of $377 a year.
Runner-up Louisiana boasts an annual car ownership cost of $2,555 and the highest insurance costs in the country, accounting for $1,277 a year. While repair costs and gasoline prices are not shocking, insurance rates are enough to put Louisiana second.
Wyoming is by far the most expensive state to own a car in, surpassing Louisiana by $150. The total costs of $2,705 are so elevated due to the extremely high gasoline expenditures. At $1,588 the cost of gasoline is the highest in the U.S., leaving runner-up Alabama behind by more than $300 a year.