The Most And Least Expensive States To Own A Car

As astute car shop­pers know, there’s more to sav­ing mon­ey on a car than sim­ply nego­ti­at­ing the low­est price on a giv­en mod­el. Long-term own­er­ship costs – specif­i­cal­ly insur­ance, fuel econ­o­my and repairs – can vary sig­nif­i­cant­ly from one vehi­cle to anoth­er, even with­in select vehi­cle and/or price class­es.

Such fac­tors can vary by as much as $3,800 on aver­age over a five-year own­er­ship peri­od, based sole­ly on where a motorist lives, accord­ing to a recent analy­sis com­piled by, with sev­er­al Mid­west states boast­ing the low­est annu­al costs over­all.

If you’re look­ing to save mon­ey, pack up a mov­ing van and head for the Hawk­eye State, as those liv­ing in Iowa cur­rent­ly enjoy the most-afford­able auto own­er­ship costs in the nation at an aver­age $1,942 per year. At the oth­er end of the spec­trum, res­i­dents of Wyoming pay the most in this regard at an annu­al aver­age $2,705. By com­par­i­son, the nation­al aver­age stands at $2,223/year.

Motorists tend to clock 68 per­cent more miles behind the wheel in Wyoming than the norm, which results in high­er than aver­age fuel expen­di­tures at a pun­ish­ing $1,588 per year. Mean­while, Iowa res­i­dents enjoy both the cheap­est insur­ance rates in the nation at an aver­age $630 annu­al­ly, and below-aver­age repair costs at just $630/year.

Click here for the full list of aver­age expen­di­tures in all three of the afore­men­tioned cat­e­gories for all 50 states; in the mean­time, here’s a quick look at the top 10 at both ends of the range in terms of aver­age annu­al car own­er­ship costs.

Most Expen­sive States To Own A Car:

  1. Wyoming, $2,705 average/year
  2. Louisiana, $2,555
  3. Flori­da, $2,516
  4. Mis­sis­sip­pi, $2,487
  5. New Jer­sey, $2,421
  6. Geor­gia, $2,408
  7. Delaware, $2,391
  8. Alaba­ma, $2,381
  9. Michi­gan, $2,375
  10. Con­necti­cut, $2,372

Least Expen­sive States To Own A Car

  1. Iowa, $1,942 average/year
  2. Ohio, $1,973
  3. Illi­nois, $1,999
  4.  Ida­ho, $2,001
  5. Wis­con­sin, $2,018
  6. South Dako­ta, $2,022
  7. Penn­syl­va­nia, $2,052
  8. New Hamp­shire, $2,070
  9. Nebras­ka, $2,081
  10. Ore­gon, $2,081

The Fine Print: Bankrate used labor and parts data pro­vid­ed by, with fuel costs cal­cu­lat­ed with sta­tis­tics from and the Bureau of Trans­porta­tion Sta­tis­tics. Insur­ance costs were com­piled from Nation­al Asso­ci­a­tion of Insur­ance Com­mis­sion­ers sta­tis­tics.

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