Affordable Auto Service - 952-933-0735 HOURS Affordable Auto Service - 952-933-0735 MAP Professional Auto Repair, Maintenance & Customization Services

Car Ownership Costs: A State-by-State Comparison

Annual Car ownership CostsA new study of car ownership by researchers at Bankrate.com found that it’s cheaper to own a car in Minnesota than the national average, but just barely.

The study found that Minnesota ranked 21st in terms of annual cost of ownership, coming in just $38 south of Indiana, the 25th ranked state. To determine the total cost of annual ownership, researchers looked at three key factors:

  • Repairs
  • Insurance
  • Gasoline

Researchers found the average cost of each of those expenses to come up with a grand total. Minnesota ranked 18th for cheapest average auto repair, 16th for average insurance costs, and 36th for average gasoline expenditures. On average, Minnesotans spent $346 annually on repair costs, $782 on car insurance, and $1,033 on gasoline for a total of $2,162 a year.

The cheapest state for car ownership was Iowa, which boasts an annual ownership cost of $1,942. The most expensive state for car ownership was Wyoming. Residents in Wyoming spent an average of $2,705 a year on their car.

The Best and Worst for Car Ownership

As noted above, Iowa and Wyoming rank as the cheapest and most expensive states for car ownership. After Iowa, a slew of Midwest states dominate the Top 5 cheapest states for car ownership. Ohio comes in at second, followed by Illinois. Idaho and Wisconsin.

On the other side of the spectrum, it appears that it’s more costly to own a car in the southeast. After Wyoming, Louisiana slips in as the second most expensive state for car ownership, followed closely by Florida, Mississippi and New Jersey.

In all, the average Iowan spends $763 less each year in auto-related expenses than someone from Wyoming.

For more information on how each state scored in all three categories, head over to Bankrate.com to see the expanded findings.

Related source: Bankrate.com


  • What Causes Tires To Wear Out Faster?
    Jun 3, 2015

    Your tires are an essential part of your car. The problem is that most people don’t give their tires a second thought unless they get a flat. People believe as long as their tires are inflated, they are in proper working order, but that’s not necessarily true. If you don’t take care of your car’s […]

  • 5 Tips to Prep Your Car for a Long Road Trip
    Apr 18, 2013

    Cross country road trips can be a blast, but it can become a nightmare scenario if something happens to your car far from home.  You never know what type of terrain or weather you’ll encounter on your trip, so it’s best to be prepared of all sorts. Below, we’ve outlined some of the proper precautions […]

  • 5 Thanksgiving Travel Tips
    Nov 27, 2013

    The Thanksgiving holiday is one of the biggest travel dates each year, as millions of drivers hit the road to head home to their families. In fact, AAA recently announced that over 43 million Americans will travel over 50 miles to visit friends and family over the four-day holiday break, so don’t be surprised if […]