Car Costs
Besides buying a house, a car is probably the most expensive purchase any of us will ever make in our lives. But buying the car (or leasing it) is just the first step. Just like a house, cars require a constant influx of money in the form of insurance, maintenance, gas, etc...
But exactly how much cash your car will cost you every year doesn't just depend on what kind of car you buy—but also on where you buy it. Depending on what state you live in, your annual car costs can vary pretty significantly.
That's what GoBankingRates found out when they put together this state-by-state list of the total costs for one year of car ownership, taking into account: annual gas spend, average insurance, and average cost of repairs.
They then took all those numbers and added them to the cost of financing a new vehicle to get the "total one year cost".
Note: the new vehicle cost is based on $48,427 MSRP, 20% down payment of $9,649, an average credit score of 716, an interest rate of 6.88%, and a loan length of 60 months. All of which equals $762 per month or $9,144 per year.
Alabama
Total Costs For One Year of Ownership: $24,190
Annual Gas: $1,983
Average Insurance: $1,860
Note: Car repairs average about $399 per year.
Alaska
Total: $23,518
Gas: $2,482
Insurance: $1,676
Note: No sales tax on new car purchases in Alaska.
US Mission Canada, Wikimedia Commons
Arizona
Total: $26,201
Gas: $2,298
Insurance: $1,812
Note: The sales tax on the new car is more than what you will pay in gas for the year.
formulanone from Huntsville, United States, Wikimedia Commons
Arkansas
Total: $26,379
Gas: $1,899
Insurance: $1,957
Note: Annual repair fees average $383.
California
Total: $28,504
Gas: $3,167
Insurance: $2,416
Note: Out of all the states, California has the highest total cost of ownership.
Daniel R. Blume, Wikimedia Commons
Colorado
Total: $25,239
Gas: $2,099
Insurance: $2,337
Note: Annual repair fees average $417 in Colorado.
Connecticut
Total: $26,428
Gas: $2,218
Insurance: $1,725
Note: The higher sales tax in this state doesn't help.
John Phelan, Wikimedia Commons
Delaware
Total: $23,504
Gas: $2,077
Insurance: $2,063
Note: One of the no sales tax states.
Florida
Total: $27,235
Gas: $2,248
Insurance: $2,694
Note: Florida has some of the highest insurance premiums.
Georgia
Total: $26,691
Gas: $2,124
Insurance: $1,970
Note: Repairs average about $408 annually.
Atlantacitizen at English Wikipedia, Wikimedia Commons
Hawaii
Total: $26,139
Gas: $3,319
Insurance: $1,517
Note: Hawaii has some of the highest gas prices in the country.
Idaho
Total: $25,910
Gas: $2,196
Insurance: $1,428
Note: 6% sales tax.
Illinois
Total: $26,755
Gas: $2,338
Insurance: $1,532
Note: Annual car repair costs run in the $379 range.
Ken Lund from Reno, Nevada, USA, Wikimedia Commons
Indiana
Total: $26,430
Gas: $2,167
Insurance: $1,515
Note: Higher-end sales tax, but lower-end gas prices.
Daniel Schwen, Wikimedia Commons
Iowa
Total: $25,366
Gas: $1,967
Insurance: $1,630
Note: At least gas prices are lower than many states.
Kansas
Total: $26,840
Gas: $1,939
Insurance: $1,900
Note: High sales tax in Kansas.
Jason Doss from Kansas City, MO, Wikimedia Commons
Kentucky
Total: $26,500
Gas: $1,991
Insurance: $2,228
Note: Repairs average about $385 annually.
Louisiana
Total: $26,375
Gas: $1,962
Insurance: $2,883
Note: Second highest insurance premiums after Florida.
Billy Hathorn, Wikimedia Commons
Maine
Total: $25,401
Gas: $2,224
Insurance: $1,175
Note: Car repairs average about $349.
Chris j wood, Wikimedia Commons
Maryland
Total: $26,203
Gas: $2,161
Insurance: $1,746
Note: Car repairs will run around $400.
Ben Schumin, Wikimedia Commons
Massachusetts
Total: $26,340
Gas: $2,209
Insurance: $1,726
Note: Car repairs are at $390.
John Phelan, Wikimedia Commons
Michigan
Total: $26,786
Gas: $2,182
Insurance: $2,352
Note: Lower on the gas prices but higher on the insurance.
Minnesota
Total: $26,484
Gas: $2,056
Insurance: $1,911
Note: Sales tax on the high end in Minnesota.
Mississippi
Total: $25,702
Gas: $1,891
Insurance: $2,008
Note: Car repairs average $400.
Kevin magee, Wikimedia Commons
Missouri
Total: $25,340
Gas: $1,945
Insurance: $1,982
Note: Lower than average gas prices.
Montana
Total: $23,624
Gas: $2,068
Insurance: $2,193
Note: No sales tax but high insurance premiums.
Nebraska
Total: $25,927
Gas: $1,998
Insurance: $1,902
Note: Insurance and sales taxes are both higher than average.
Nevada
Total: $27,357
Gas: $1,906
Insurance: $2,060
Note: The highest sales tax on the list.
Tony Webster from San Francisco, California, Wikimedia Commons
New Hampshire
Total: $22,760
Gas: $2,151
Insurance: $1,265
Note: The cheapest total cost of all 50 states.
New Jersey
Total: $26,642
Gas: $2,137
Insurance: $1,902
Note: One of the higher ones on the list.
New Mexico
Total: $25,374
Gas: $2,011
Insurance: $2,049
Note: Car repairs about $400.
New York
Total: $25,471
Gas: $2,292
Insurance: $1,870
Note: Thankfully, the state has some of the best public transportation.
North Carolina
Total: $24,651
Gas: $2,073
Insurance: $1,741
Note: Car repairs: $400.
Indy beetle, Wikimedia Commons
North Dakota
Total: $25,504
Gas: $2,065
Insurance: $1,665
Note: Car repair costs: $365.
Ohio
Total: $25,665
Gas: $2,120
Insurance: $1,417
Note: Car repairs are at about $350 per year.
Oklahoma
Total: $24,914
Gas: $1,840
Insurance: $2,138
Note: Annual car repairs are nearly $380.
Kool Cats Photography over 2 Million Views (flickr.com), Wikimedia Commons
Oregon
Total: $23,583
Gas: $2,539
Insurance: $1,678
Note: No sales tax and lower insurance premiums.
Pennsylvania
Total: $26,527
Gas: $2,374
Insurance: $1,872
Note: Higher sales tax and gas prices.
Rhode Island
Total: $26,982
Gas: $2,151
Insurance: $2,061
Note: 7% sales tax.
Dietmar Rabich, Wikimedia Commons
South Carolina
Total: $25,802
Gas: $1,988
Insurance: $2,009
Note: High insurance but lower gas prices.
Koushalya Karthikeyan, Unsplash
South Dakota
Total: $25,631
Gas: $2,052
Insurance: $2,280
Note: Higher insurance, lower sales tax.
Tennessee
Total: $26,392
Gas: $1,933
Insurance: $1,677
Note: High-end insurance costs and sales tax.
AppalachianCentrist, Wikimedia Commons
Texas
Total: $26,343
Gas: $1,885
Insurance: $2,043
Note: Lower gas prices but those insurance prices will get you.
Utah
Total: $26,717
Gas: $2,180
Insurance: $1,825
Note: Car repairs: $400.
You may select the license of your choice., Wikimedia Commons
Vermont
Total: $25,859
Gas: $2,269
Insurance: $1,319
Note: Insurance is the third lowest in the country.
Virginia
Total: $24,970
Gas: $2,105
Insurance: $1,469
Note: Annual repairs: $400.
Yoichi Okamoto, Wikimedia Commons
Washington
Total: $27,016
Gas: $2,876
Insurance: $1,608
Note: Higher-end sales tax in Washington state.
AgnosticPreachersKid, Wikimedia Commons
West Virginia
Total: $26,412
Gas: $2,127
Insurance: $2,005
Note: High insurance premiums in West Virginia.
Wisconsin
Total: $25,426
Gas: $1,992
Insurance: $1,664
Note: Annual car repair costs come in at around $361.
Wyoming
Total: $26,197
Gas: $2,145
Insurance: $1,758
Note: A 6% state sales tax accounts for about $2,900 of the total.
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