What States Are Cars Most Expensive?

Owning a car can be costly; some states are more so than others. Various costs contribute significantly towards ownership costs, from insurance rates and gas costs to maintenance expenses and parking fines.

We will examine what states are the most expensive for car ownership and examine why car ownership costs more in certain states.

The Most Expensive States to Own a Car

Owning and operating a vehicle can be costly, with expenses increasing in some areas of the nation.

AAA recently determined it costs $10,728 annually or $894 monthly to own and operate a new car in 2021, an increase of 10.99% from 2018.

To find which states are more expensive when owning cars, one needs to analyze gas prices, car repair costs, car insurance premiums, and monthly auto loan payments across the 50 states.

Unsurprisingly, the research findings demonstrate that gas prices and state repair costs significantly affect how much drivers in different parts of the United States pay for their cars.

Car owners living in states with higher-than-average gas prices should expect to spend more at the pump; those in regions where repairs prove more expensive may incur extra expenditures for regular maintenance or major fixes.

Insurance premiums also differ by state, which adds further costs. Look at some of the most costly conditions for owning a vehicle.

Nevada

Nevada has long been notoriously expensive when it comes to owning cars, with US website WalletHub rating it tied with California as being among the costliest states nationwide for owning one, scoring 100 out of 100 points overall. Gas prices here also tend to be among the nation's highest; regular gasoline typically costs $4.24 per gallon.

Furthermore, Nevada drivers pay the sixth-highest total annual premium ($3,342) and share 10th place with North Dakota regarding having the highest average monthly auto loan payments ($582).

Owning a vehicle in Nevada can have severe repercussions for lower-income households relying on their cars for work or school commuting purposes. Unfortunately, those from disadvantaged backgrounds often struggle to secure affordable financing solutions and spend more each month than necessary on car ownership expenses.

Before purchasing a vehicle in Nevada, prospective purchasers should carefully weigh all their options before making their choice. Doing this can save them considerable money while ensuring they remain covered on the roads without additional financial strain.

Colorado

Colorado serves as an outstanding example for drivers. Colorado sets itself apart with the second-highest amount for check engine light-related car repair costs at $417.14 and the fifth most costly to purchase regular gasoline at $4.09 a gallon.

Colorado residents can anticipate paying an annual premium of approximately $2,4889 for total coverage auto insurance premiums - making Colorado one of the ten costliest states for whole coverage policies.

Overall, Colorado is worthy to rank amongst the top three for driver friendliness with relatively expensive maintenance and insurance costs, yet still receiving near-perfect scores from Driver Scorecards.

Commuters in Maine enjoy reliable roads with low rates of fatal crashes that offer peace of mind while behind the wheel, whether driving short errands or taking long road trips!

Florida

Florida ranks fourth-best among US states according to US News & World Report estimates for overall quality and performance, scoring an estimated 84.03 out of 100 possible overall quality and performance estimates.

Its high rank can be attributed to Florida's growing population and vibrant economy, which boasts many jobs available through tourism and in sectors like agriculture and technology.

Academic standards in many districts are also high, providing outstanding education at reasonable costs; however, university tuition fees can become quite pricey.

Florida motorists could benefit from lower auto insurance premiums; on average, they pay $4,326 annually in full coverage insurance on their vehicle - the second highest premium rate after only Louisiana.

These financial strains compound further for those already stretched financially who must purchase automobile protection due to liability concerns or legal requirements.

Floridians seem willing to sacrifice to secure quality living conditions - they live in one of the top four states.

Alaska

Alaska remains far behind America in terms of the cost of driving. Alaska experiences some of the nation's highest gas prices - seventh-highest with $3.84 for regular gasoline per gallon and ninth-highest monthly auto loan payments with average payments at an estimated $583 yearly payments.

Due to Alaska's vast size and remoteness, transportation costs in Alaska may naturally be higher than in other states; nonetheless, they still pose considerable costs for residents or tourists looking for adventure.

Maryland

In WalletHub's 2021 report, Maryland was named one of the six best states, receiving an outstanding overall score of 77.08 out of 100 points for quality-of-life and healthcare factors; Maryland excels across these aspects and more.

Maryland ranks lower in car-related costs; according to research from Investopedia, Maryland ranks fifth for total coverage car insurance costs, with an annual average price of $3,349.

Maryland ranks eleventh for check engine light-related repairs at $399.07 on average due to its stringent vehicle inspection laws that mandate biannual vehicle checks after cars reach three years of age or greater.

Becoming aware of repair costs and searching for discounts can help ensure the state remains in top condition, offering quality infrastructure and resources available to its citizens.

Georgia

Georgia ranks high in safety and driving, evidenced by its impressive scores across various categories. According to research done by WalletHub, Georgia scored 75.69 out of 100 when rating overall driving safety - making them one of the seven safest states for drivers compared with Texas, which came in sixth with 76.27 points.

Georgia drivers have some factors they need to consider regarding finances associated with car repairs and loan payments, though their overall rating may be impressive. On average, Georgians pay $407.71 on auto repairs per visit - making Georgia only the fourth most costly repair state among all states considered for this study.

Additionally, their monthly car loans average approximately $590 per month - one of the eight highest payments across all 50 states.

Though these obstacles may not present significant obstacles if one decides to call Georgia home and drive within its borders frequently, they should still be considered as part of an overall strategy to minimize financial liabilities as much as possible!

New Mexico

New Mexico scored 73.61 out of 100 on WalletHub's 2020 Best and Worst States to Drive In ranking. New Mexico, with the 34th largest population and varied geography, such as deserts, canyons, badlands, rivers, mountains, and much more, was the 34th best-performing state to drive through in 2019.

Visited for its scenic landscape and celebrated food culture, it's no wonder driving has become such a particular form of transport in this town.

However, conditions on New Mexico roads aren't perfect: drivers must also pay high amounts in auto loans.

According to a WalletHub report, New Mexico drivers average monthly auto loan payments of $616 - making them one of the highest borrowers nationwide - so taking full advantage of all that being on the road offers may be limited in The Land of Enchantment.

Tips to Reduce the Cost of Car Ownership

One effective strategy to lower monthly auto costs is shopping around for auto insurance plans and providers; you could find discounts or loyalty rewards by staying loyal over time with one provider.

Be sure to follow all recommended maintenance in your owner's manual for oil changes, tire rotations, and any other recommended tasks -- this can reduce repair bills while increasing vehicle lifespan overall.

Modern technologies such as eco-friendly engines or low rolling resistance tires can dramatically boost fuel efficiency over time, decreasing how frequently and decreasing costs associated with refilling gas stations in the long term.

Try carpooling or taking public transit whenever possible to lower expenses; carpooling and public transit options can often prove more affordable and better for the environment than driving yourself!

To Finish

Car ownership costs depend heavily upon where you reside, from gas and insurance rates. Hence, all factors must be carefully considered before making any definitive decisions.

No matter where you reside, there are always ways to reduce car expenses, such as carpooling or driving more fuel-efficient cars.

No matter where you reside, be it high car costs states or those with lower costs, ensure you drive responsibly to save!

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