The most expensive states to own a car, ranked - Forbes Advisor Study

With car insurance rates increasing by nearly 15% in 2023 and auto loan delinquencies rising nationwide, the cost of car ownership remains a pain point for Americans.

In some parts of the country, car ownership poses a greater financial burden for drivers due to the high cost of gas, repairs and car insurance. So, which states are the most expensive to own a car?

To find out, Forbes Advisor analyzed gas prices, car repair costs, car insurance rates and monthly auto loan payments for all 50 states.

Key Findings:

- California and Nevada tied as the most expensive states to own a car in the U.S, followed by Colorado, Florida and Alaska.

- Ohio is the least expensive state to own a car, followed by Iowa, Wisconsin, Maine and New Hampshire.

- Seven of the 10 most expensive states for car ownership are located in the Pacific and West.

- Six of the 10 least expensive states for car ownership are in the Midwest.

- Connecticut is the most expensive state for car repairs (Connecticut residents pay $418.37 on average for check engine light-related car repairs).

- New York is the most expensive state for full coverage car insurance ($4,769 per year).

Find the full report, including the methodology and infographics CLICK HERE.