Most and Least Expensive States to Own a Car--Wyoming is Most Costly
NEW YORK -- Aug. 11, 2014: Wyoming is the most expensive state to operate a motor vehicle and Iowa is the cheapest, according to a new Bankrate.com report. Bankrate factored in the annual costs of gasoline, insurance and repairs. In Wyoming, a typical driver spends $2,705 per year to operate his or her vehicle. In Iowa, the average driver spends just $1,942 per year. The national average is $2,223.
While Wyoming has below-average costs for car repairs, gas prices and insurance, drivers in this state drive 68% more than the typical driver and therefore spend a whopping $1,588 per year on gas – more than anywhere else in the country.
One major reason Iowa is the cheapest place to operate a vehicle is because drivers there enjoy the cheapest car insurance rates in the country (average of just $630 per year). Car repairs are also relatively inexpensive; typical drivers in Iowa spend just $315 per year.
Louisiana ($2,555), Florida ($2,516), Mississippi ($2,487) and New Jersey ($2,421) round out the five most expensive states.
Ohio ($1,973), Illinois ($1,999), Idaho ($2,001) and Wisconsin ($2,018) join Iowa among the five cheapest states.
Click here to view the findings from all 50 states and Washington, D.C.:
Bankrate analyzed the cost of gasoline, repairs and insurance in all 50 states and the District of Columbia. Labor and parts data were provided by CarMD.com, while gas spending was calculated with statistics from GasBuddy.com and the Bureau of Transportation Statistics. Insurance costs were compiled from National Association of Insurance Commissioners statistics.